Shouldn't be a surprise to any of you who have been following the story line closely.
The Nasdaq put in an extremely standard two day recognition of resistance at 13100 on Monday and Tuesday.
And what does it do today?
It takes out resistance in the most devilish way possible, by gapping up near the highs of the past two days, not even thinking of looking back the entire day.
These subtle or not so subtle (depending on how you look at price) demonstrations of manipulation tell a very important story.
That story is one of TIME.
The markets are telling us that they want to ascend in as fast a manner as possible. In order to do that, they don't have time to punish investors with multi-day down days that typically act as rinses for the next leg. Instead, they have to punish investors with ultra-short term deception that fulfills the minimum price manipulation requirement in the minimum amount of time.
We see now that the Nasdaq has cleared resistance, on its way to 14000+ during August, which is a level I have been speaking of for some weeks now as the upside target in the short-term.
The time it takes to get to 14000 and how it handles this key level will tell us a lot about how much further we have to go.
My guess is that the answer will be....a lot further.
Stay tuned.
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