THE SQUEEZE PLAY

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I think we're seeing the old squeeze play in action, lets take a look...

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Looking For SIGNS

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Janet Yellen will be speaking over the next 2 days and everyone is looking for signs.  Signs that an interest rate hike may be coming and what that may mean for the markets.  So far most things seem to be business as usual.  On FEB 12, with the recent break to new highs in the Nadsdaq (and then the DJIA and SPX) after such a long consolidation, I thought that we could get a melt up higher. A normal  test of the break out also cannot be ruled out. I also called out a target of 5241 over time.

NAZ feb 12NASDAQ NOW

NASDAQ FEB 23

Lets look at what OIL & NATGAS have been doing...

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Ascending Triangles

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Have you seen any Ascending triangles?  They can break out higher and they can break out to the downside.  Here is one that broke out higher for example.

WAGI'd like to show you another one...

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