Manage episode 222948087 series 1165508
Our FEATURE this week focuses on the financial markets as we have done the past 3 weeks. A very unusual and technically significant trading pattern has evolved. The charts illustrate that there is a triple top & a triple bottom that is almost symmetrical with a slight bias to descending tops or what is referred to as a descending triangle. Speaking to a radio station in Newark NJ early this morning I suggested that the charts resembled a mouth of a shark and the vertical & up & down lines appeared to be the teeth. A predator was indeed lurking. All the bottom support numbers will be challenged this week. We believe support will be broken and the markets will go lower but hopefully we'll be wrong or just early. Other topics include: France's 2nd Revolution, Investor sentiment change from TINA to TIRA, NY Fed sees higher interest rates, Banks are the biggest S&P loser, Wells Fargo loses another wheel on its' stagecoach, Hidden risk in bank safeguards, Facebook's "hard-nosed tactics" exposed, George Herbert Walker Bush's "Secret Society" not eulogized, The Washington DC sex scandal exposed, "I know where all the bodies are" and our recollections of the most infamous day in history. "Disclaimer: This commentary is provided for informational and educational purposes only. The information, analysis and opinions expressed herein reflect our judgment as of this date and are subject to change at any time without notice. They are not intended to constitute legal, tax, securities or investment advice or a recommended course of action in any given situation. All investments carry a certain risk and there is no assurance that an investment will provide positive performance over any period of time. Information obtained from third party resources are believed to be reliable but not guaranteed. Past performance is not indicative of future results. H. L. Quist is an Investment Advisor Representative."
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