• 749 days Will The ECB Continue To Hike Rates?
  • 750 days Forbes: Aramco Remains Largest Company In The Middle East
  • 751 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,151 days Could Crypto Overtake Traditional Investment?
  • 1,156 days Americans Still Quitting Jobs At Record Pace
  • 1,158 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,161 days Is The Dollar Too Strong?
  • 1,161 days Big Tech Disappoints Investors on Earnings Calls
  • 1,162 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,164 days China Is Quietly Trying To Distance Itself From Russia
  • 1,164 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,168 days Crypto Investors Won Big In 2021
  • 1,168 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,169 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,171 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,172 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,175 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,176 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,176 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,178 days Are NFTs About To Take Over Gaming?
The Problem With Modern Monetary Theory

The Problem With Modern Monetary Theory

Modern monetary theory has been…

Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

  1. Home
  2. Markets
  3. Other

A Trapped Tape

A funny thing happened on the way to a higher high...

The bulls got trapped - again.


Larger Image

Maybe it will be as fleeting as the half pirouette the market pulled at the 200 day moving average a few weeks back. One thing is certain - the market has been in a trading range for over the past six months and is currently sitting at the mid point of that range. This is actually quite similar to what became last years consolidation phase - but tighter and softer. I say softer because although the headlines and tangible risk propellants are even more worrisome than when the sovereign debt crisis erupted last year - fear has yet to grip the tape in the same indiscriminate fashion.

Bulls can look at the price structure of the market and find consolidation within a relatively narrow range. Bears can look at the same structure and find a broadening top with diminishing participation and desensitized participants.

The devil is in the details.


Larger Image

 

Back to homepage

Leave a comment

Leave a comment