Silver Swing high: Look at the volume that comes in from the algorithmic activity around these swing highs and lows. This has been going on for years. Not sure why more folks don't look at this.

True trend day down with range expansion, expecting lower prices tomorrow (Duh), Was talking with a friend - what percent of traders out there have seen a REAL bear market - where liquidity dries up and you are in the doldrums for 10 years. Just saying...

A billionaire sat in a room for 42 minutes and listed every psychological trick that makes people lose money. for free. the finance industry has spent thirty years pretending this recording does not exist. he didn't sell a course. he didn't write a newsletter. he sat in a chair at 96 years old and explained why brilliant people do the dumbest things with their money. then he explained why they will keep doing it. MBA programs charge $200,000 to teach behavioral finance. he covered 25 biases in one sitting. some of them are still not in any curriculum. he gave the entire framework away on camera. the part nobody talks about: he called crypto antisocial. he said index funds will crush most managers. he said private equity is full of wretched excess. he said all of this in a room full of people who manage money for a living. nobody argued. a hedge fund analyst at a top firm told me this is the first thing they send to anyone who joins the desk. not a book. not a model. a 42-minute video of a 96-year-old man explaining why you will be wrong and how to recognize it before it costs you everything. 40 million people have heard his name. almost none of them have watched him explain the 25 ways their own brain is working against them. the lecture is free. he died the following year. it is in the video.

A colleague wished for Paul Krugman to interview Scott Bessent. AI delivered, (even inserting a bit of humor!) Fictional interview: Krugman: “Scott, you want lower taxes, higher tariffs, a smaller deficit, and lower interest rates. Is this an economic program or a restaurant menu where nobody has to pay the bill?” Bessent: “Paul, you’re assuming the size of the economy stays fixed. More investment and stronger growth can improve the fiscal picture.” Krugman: “Growth helps. It’s the part where every tax cut supposedly pays for itself that makes me reach for a calculator.” Bessent: “And economists sometimes reach for a model before asking why a factory closed. Tariffs can serve a strategic purpose.” Krugman: “Certainly. But protecting a strategically important industry is different from taxing imports across the board. Who absorbs the cost?” Bessent: “That depends on currencies, margins, and whether production moves.” Krugman: “Good. Then we agree that ‘the foreigners pay’ is a slogan, not an accounting identity.” Krugman: “What happens when the bond market doesn’t believe your deficit projections?” Bessent: “You listen. I’ve traded markets; I know confidence can disappear faster than a congressional committee can schedule a hearing.” Krugman: “Then surely you understand that investors need credible arithmetic.” Bessent: “And you understand that markets trade expectations, not just this year’s spreadsheet.” Krugman: “Yes. Unfortunately, expectations eventually meet the spreadsheet.” Bessent: “You seem to think anyone who disagrees with you hasn’t read the economics.” Krugman: “Not everyone. Some have read it and proceeded anyway.” Bessent: “And some economists have predicted ten of the last three catastrophes.” Krugman: “Fair enough. Let’s publish the assumptions and see whose forecast survives.” For the first time, both men smile: they have finally found something they can agree to argue about.

Flying out tomorrow to London! "International Federation of Technical Analysts 2026" Folks can register for the conference at a fraction of the price a la Live Streaming...(OK, you miss the Friday evening cocktail party...)

Silver: this type of coil is one of the patterns that can precede an extended run. (remember the pothole repair area that comes in starting 6243?) trade above that area = confirmation.