When not watching a ‘market’ or ‘finance’ movie, you can usually find us viewing the sci-fi or fantasy genre – so we’re pumped to see the 2nd installment of The Hobbit in a few weeks… which might explain why we’re starting to see Hobbit-like signs all over…
Take Sugar, for instance, which has been down 24 out of 29 days from mid October through present, after going up 24 out of 35 days from September through mid October. We couldn’t help but feel that the Sugar chart looks an awful lot like the great dragon Smaug’s home – Lonely Mountain.
Chart Courtesy: Finviz.com
The question now, of course, is what happens when Sugar gets to the bottom of the hill. Do we keep plunging lower, into a valley? Move sideways onto a plateau? Or retrace back up into a new mountain range? Stay tuned.