Beware The False Breakout

Remember all those analysts that have been telling us the market was about to crash? Well, just like I predicted, the Nasdaq is now testing the all-time highs.

Beware of a false breakout early next week. This is how big money gets out of a position. They create a breakout and then sell to the clueless retail traders that buy the breakout. Buying breakouts rarely works in modern markets.

false breakout

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Jim Trenery 8 years ago Member's comment

I like and agree with your thoughts on this breakout.