Washing Machine

Today featured a very clear reversal trade of the day.  The morning look down that printed a minor low of yesterday's range low during the 1st hour.

These minor lows of the previous session, 1st hour, are powerful patterns that occur over and over again.   It's almost getting boring pointing them out all of the time!

As the move higher progressed today, 9:00 PT showed no signs of reversal, so then all there was to do was wait for gap fill or 11:00 for possible exit from the morning long or gaming a reversal entry.

Right on cue, sellers came in 10:56 but didn't get very far.

The market is now in washing machine mode with inventory sweeping up and then down.  I don't view this as particularly healthy as the push off the 50 day should not have been messed with.

I just cannot stop the political rants, so "maybe" coming to a movie theater near you is a reason why the Government has been cornering the ammunition market for years now, with it's 1.6 billion round "strategic" accumulation program.
With a population 319 million, I guess that the Feds want to make sure that they have the firepower to plug each citizen with 5 rounds each, should that become necessary.  Makes me all warm and fuzzy knowing that big brother is arming himself to the teeth.  But what do I know?  It all does not seem real.

I can't wait for Hilary in 2014 and then Michelle after that. A hyperlink in case you missed it.  They will make a back-to-back combo that will fully revenge 4X the left's suffering under multiple Bush terms.  And then some...