The tipping point… nose up against resistance…

Posted on Feb 26, 2019 by in Letters

Weekly basis.  A weekly basis chart dramatizes recent price action.  There certainly is some drama in the chart-- 9 weeks of advancing prices.  The upshot is essential drama.  Price is nose up against important technical and psychological resistance.  The price itself is shot with significance:  2800.  Centenary numbers have what Gibbon called numen.  This numinous character underlies market action, inhibiting advance and when broken acting as an impulsive force.

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