Going for Broke

It’s getting downright silly again.  I get the whole recovery from Brexit, as though it never happened and doesn’t matter.  And, I get the whole spike to above the 1.618 extension.  But, now they won’t even allow a 6-8 point decline, in order to maintain the appearance of normalcy for the rising channel they fabricated.  Who’s running this circus, anyway?  2016-08-09 ES 5 0615Probably the same guy who’s been in charge of USDJPY for the past week. Recall that it broke down, then recovered a bit in a channel that paralleled the broken one, then rejoined the broken one, only to break down again this morning in a show of bearish potential.  To quote Joe Bob, it’s ugly on a stick.

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