Heikin-Ashi: And the Winner Is… haDelta ($SPX SPX)
In the last newsletter from June 9, haDelta warned about an exhausted reaction and a market top despite the bullish sentiment generated by the Spanish banks bailout. It was a typical case of technical analysis vs. ‘logical’ action.
Today, smart money sold the rally, dumb money bought it.
And the winner is… haDelta.
Here is the action at the end of the trading day today June 11.
The market rolled over and is working now on a possible right shoulder of an inverse head-and-shoulder bullish formation.