“I have persecuted its native inhabitants beyond all reason. Whether gentle or simple, I have cruelly oppressed them; many I unjustly inherited; Innumerable multitudes, especially in the county of York, perished through me by famine or the sword."
– William the Conqueror
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The market continues to gently push against the rising resistance in a continuation of the low volatility drift higher whilst momentum and breadth fade – suggesting that we may be entering a sideways distribution phase prior to a possible decline, most probably towards the end of the current T structure.
However, the current indications are that any decline will be relatively shallow and that the current T structure is potentially larger and could draw strength from earlier declines than drawn.
Be prepared for whatever comes next:
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Disclaimer: This is the diary of a personal trading system, its methodology and the signals that it is producing. You are welcome to follow along but please understand that the information presented here is for educational purposes only. No recommendations are being made to buy, or sell stocks, options or futures contracts. Please consult your own financial advisor before making any investment decisions.