A very good and long time friend of mine has the unique opportunity to work in the intelligence community. From time to time, we meet at $SBUX and just sit and watch the people move in/out of the store w/ their 5$ coffee’s. He always remarks how $SBUX “is not the real world” and that his office is the real world. True or not, I do consider this company a contrarian indicator. The market, in my world, is the sum of the vibrational energy of the masses. And, if the masses are still willing to pay outrageous prices for their fix then, the market is simply not ready to go down. This chart has me extremely interested …lot’s of geometry equals lots of resistance. Take a peak ….
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