Thursday, July 8, 2021

Scattering Ducks

Wasted
Sacrifice for a new nirvana
Night time
Sends us on our way

--Icicle Works

Several technical divergencies evident in the charts. While the Dow and other major indexes are close to all time highs...

...the Trannies are well off their highs and trading heavy.

Dow theory proponents would call that a bearish divergence. The financials are also well off their highs and looking head-and-shoulderish:

Bulls like it when their ducks all line up. Right now, the ducks are scattering.

position in financials

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