Days like Monday are bittersweet. It’s great fun watching one’s account value roar higher [if you’re shorting], but at the same time, you know it’s going to be all over way too soon, and things will get dull and listless again. It takes a lot of patience to finally wallow around in a day like this.
Now we have to deal with the stupid bounceback.
Let’s look at ETFs to get the lay of the land. The , via the SPDR® Dow Jones Industrial Average ETF Trust (NYSE:), is still rangebound.
Its brother, iShares Transportation Average ETF (NYSE:) however, the fund, has completed a huge topping pattern. So, yeah, put a fork in it.
Of course, the only asset gaining value yesterday was bonds, below, via iShares 20+ Year Treasury Bond ETF (NASDAQ:), and on huge volume. I have been pointing out the change in trend for many weeks, but I had no hope that we would absolutely pole-vault over...read more...