Cubes Update – Earth to Romper Room

Qqqq2006713
The Cubes (NASDAQ: QQQQ): 6:55 AM NYC time, July 14: As noted on June 28th, the rally failed. Two trading days later we got that big white candle circled on the chart and people like Investor’s Business Daily said it was a follow through day and a new rally was underway. Meanwhile, back at Cubetrader.com, we pointed out the flaws in “rally.” The actual failure (the circled red candle on the chart) was noted here, a good week or two before IBD even trying to cover its ass and…


…say “not all follow throughs signal a new bull market.” In case someone forgot to tell them, here’s reminder, which is actually shocking to have to say, but apparently necessary: You can’t have an effin’ new bull market until after you’ve had a new bear market. It goes like this: bull market, bear market, bull market, bear market. And another message to the IBD romper room writers, bear markets last longer than three months. Ok, got that off my chest. Have a great weekend. Cheers!

PS: Look for a short-term rally attempt soon, after the people that bought the sucker’s rally get forced out. Plus, oil and Israel, Iran, G8 fear will eventually subside. As per usual in bear markets, look for the rally to do this: fast, furious, fail, repeat. Until a true bottom is put in down the road a bit further.

————
SUBSCRIBE:
Like my blog? Want to get automatic email updates at a frequency YOU chose? Enter your email address at the top right of my blog and click “Subscribe.” The service is managed by Squeet.com and is private, SPAM-free and doesn’t cost a penny, so signup now! You can cancel at anytime by clicking the unsubscribe link in each email.

FEEDBACK:
Already receiving my blog via email? Don’t forget to click the “Promote This Story” link on posts you like (links are in the emails you receive).

TECHNORATI TAGS:
| | | | |

Advertisements