After the big gap opening on the SKF yesterday. It began to fall back, and we were stopped out at $128.05. If there is goodness in the universe, then the ETF will fall back to support at the $110 area giving us another entry. You can see in the five-day chart, in the 15 minute timeframe that the volume is constant at about 2 million shares per day.
Now check out the volume on the one-year chart, do you see how it's building from about 25 million shares to over 50 million shares as ETF trades from $110 to over $140? If the SKF does not fall back, but instead breaks $160 on heavy volume, and we will have to go in there. Why? because the SKF, trades inverse to the financials which are heavily rigged and supported by an aging. tiring plunger protection team. The banks and brokerages are collapsing around us meaning that the SKF will eventually break, its high of $211.75 and who knows where from there. But to break the old high. It will have two passed through $160 first and we want to get on board no later than that.
I know buying at a higher price seems counterintuitive but it has a better chance of moving up. Once it breaks 160, then it did yesterday at 140 and a better chance of continuing up. When it breaks all-time high. this thing is so rigged I don't think I even want to pay attention to the momentum indicators, just price and volume on this one.
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