agita, agitation, anxiousness, apprehension, apprehensiveness, care, concern, concernment, disquiet, disquietude, fear, nervosity, nervousness, anxiety, solicitude, sweat, unease, uneasiness, worryHere's the roundup, The Reformed Broker did the heavy lifting:
The Mother of All Failed Moves?
Traders love false breakouts and false breakdowns because the reversals once a move fails can be swift and rewarding for those who are positioned for the failure. That combination of directional volatility and quickness is the trading equivalent of chocolate....MUCH MORE
What we could be looking at now is the Mother of All Failed Moves - an S&P false breakout above the historic 1576 level you've read about in your textbooks since the third grade.
It is too early to tell whether or not the False Breakout camp will be right, but this morning it certainly "feels" like they will.
Three sightings so far worth noting:
JC Parets at All Star Charts:
What happens if this recent move in the S&P500 above the 2007 highs was a false breakout? What then? On the way up, we were all hearing about this 2007 resistance. How we had to acknowledge it and at least correct when we arrived there. But then we got through and held above it for a couple of months, and everyone forgets. So does this mean the old resistance no longer exists and it should be ignored?...
Nervosity?
