I’m typing this on Tuesday night. Early on Monday morning, I did a pre-opening post called The IHS Threat which—awwww, hell, c’mon, go read it yourself.
If I wrote it at 5:30 in the morning, you can surely trouble yourself to read it without me summarizing it. In any case, the “threat” is looking very close to “reality” at this point:
If it crosses the neckline, which as I’m typing this seems nearly a foregone conclusion, what next? Well, the reaction is going to be very important. If it just flies, it could easily fly to 2160 on the RTY.
On the other hand, if it gets a little above the breakout and then sputters below it, we may have exactly the same thing last time this happened, which is a great entry point for shorts.
