Preço das casas dá maior salto de sempre no arranque da garantia pública

[Camisa Roxa]

The S&P 500 formed a large wide whippy base shortly after reversing itself up from the October low. Hopes for this base were for it to become the new launching point for the market’s next advance to higher levels. That wasn’t to happen and a very convincing Wide Range Bar (WRB) cracking under the base was to follow. This multi-month base now broken became a large area of supply to pressure the market lower instead of becoming the launching point for an advance. Too bad advancing markets are preferred. In the two weeks after the break determined bulls put up a well-fought battle. Had they been able to push prices well into that WRB they actually may have had a chance of reversing this decline. A move to that point above the most recent consolidation, which is now a new supply area, would have become a small area of demand. At least they then would have had some type of footing to attempt a meaningful advance. On Friday they were dealt what currently looks like a deathblow. A bullish employment report had bears on the defensive with futures and stocks gapping higher pre-market. It appeared the way, but when the opening bell rang the overhead supply poured in and the baby bulls were mauled relentlessly though out the day. So where do we go from here? As we look under the market for a possible focal point we see there is none until the area of the October low. The advance off that low was straight up, it offers little to no support to stop the decline currently under way. Momentum moves such as the ones in this chart do not have stopping power against a bearish move. They do not form any consolidation or demand areas to stop the move. While they indicate strength on the way up, they are the ultimate point of weakness on the way down. If you think that area on the opposite side of those momentum bars is some support, think again, at this point it is meaningless old news. Now this sounds quite and bearish and it is no doubt about it, but we have to ask what could possibly change this picture. Well if the market could gap up Monday morning to Friday’s high, then close near the high of the day with a relatively wider range bar I would certainly begin to change my opinion. I would have to because the pattern changed dramatically. This is in line with trading in the moment Bar by Bar, what I explained Friday in the Pristine Day Trader letter. That pattern doesn’t seem likely at this point but we have to think of other possibilities, other than the one currently suggested at the moment. The ideal scenario, if I could write the play by play for this market would be a straight down collapse to the October low. Why such a negative point of view? Think about what I explained about the momentum move up from the October low offering little to no support. If the move were to be straight down, how much resistance would there be to stop a move back up to the first point of supply? If you said not much you’re right.The only thing that moves the market is Supply and Demand. Your goal as someone in the process of learning technical analysis should be to learn the ways in which it takes form and the implications of those patterns.