“Woe to the land whose king is a child and whose leaders are already drunk in the morning. Happy the land whose king is a nobleman, and whose leaders work hard before they feast and drink, and then only to strengthen themselves for the tasks ahead”. (Eccl 10: 16-17)
"When misguided public opinion honors what is despicable and despises what is honorable, punishes virtue and rewards vice, encourages what is harmful and discourages what is useful, applauds falsehood and smothers truth under indifference or insult, a nation turns its back on progress and can be restored only by the terrible lessons of catastrophe." … Frederic Bastiat
In every stage of these Oppressions We have Petitioned for Redress in the most humble terms: Our repeated Petitions have been answered only by repeated injury. A Prince whose character is thus marked by every act which may define a Tyrant, is unfit to be the ruler of a free people. Source – The Declaration of Independence
Am sure it has not escaped your attention that weekly retracement/sideways action typically takes aboout 8-10 weeks. That brings us to a seasonal low near July for the next effective launchpad.
ReplyDeleteBest regards
Trader Garrett
In my prior comment, I should have said "potential seasonal low near July". Thanks Dan for sharing your extensive knowledge, insights and charts. Very much appreciated.
ReplyDelete"Typical" periods are for typical times.
ReplyDeleteWhat is "typical" today, anything of import? Well we know that indecision is commonly pervasive and thus greed or fear often trigger sudden stampedes into and out of markets.
The very "typical" factors like this may be expected to engage with today's atypical aspects to undermine all manner of assumptions about the future.