Testing The Test, Complete?

Before we get to the chart, let’s start with this from ZeroHedge:

US Pending Home Sales Collapse To Record Lows In September, link here.

Next, we’ll paraphrase a comment.

Note: If you want to see the direct quote, it’s the first one in the article:

‘The reason real estate is not selling is because of doubt. Doubt about the economy, war, the country and whether ‘normal’ will ever come back‘.

Well, we have news, ‘normal’ is not coming back.

We’re in a new paradigm.

With that, let’s remind ourselves on ‘why’ ABNB launched higher this past August 7th, link here.

The link is of interest, as it tells us the ‘official’ narrative.

Now, looking at what price action is actually doing.

Airbnb ABNB, Daily Close

The last update on ABNB, was here, where it said, price action is likely in an upside test.

At this point, we may have the beginnings of a reversal (not advice, not a recommendation).

Stay Tuned

Charts by StockCharts, TC2000

Note:  Posts on this site are for education purposes only.  They provide one firm’s insight on the markets.  Not investment advice.  See additional disclaimer here.

The Danger Point®, trade mark: No. 6,505,279