SP500 seems to be hitting its head against 4700 and forming triple top. They are still doing QE, FED promised to lower their asset purchases, but their balance sheet shows an increase. We will see if it will break, go higher and then I would be fearful of the next CPI numbers, but I think there is a technical case for going short.
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It's a possible fakeout, will see.
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This fake out reminds me exactly what happened in bitcoin after that doubletop. Total fake out before second top went down. This is really common in heavily manipulated markets. Big money takes retail stop losses.