CCI topped out, waiting on MACD confirm. Door is open for a different alternative, but quickly closing. ECRI world growth index it's economic index has fallen back to levels last seen in 2007.Glass half full or spilt all over the floor?
D
Subscribe to:
Post Comments (Atom)
2 comments:
I love those Renko charts. They really capture a trend.
The equity markets appear to have peaked in April. I see extending unemployment benefits was voted down today (cost cutting vs stimulus). The tax credit on housing is up. As you noted banking and retail heading south. The economic and social environment looks like it could get really ugly in the next 12 months. War drums in the Middle East are beating with Israel and Iran. The next wave down, C wave, Kondratiev, Killer wave (pick a neat name) appears to be gathering momentum.
Inverse ETF's could be a very good buy and hold here. Pretcher, Laundry, Arch Crawford all super bearish on the next 12 months.
It seems to me just a matter of scaling into a big trade here.
One of my subs continues not to waiver with a primary uptrend intact call, I am at odds with that, but wont disregard it.
It's to what extent can sellers gain upper hand going forward, the longer weakness persists, the more likely we get technical bear signals.
We are dealing with unforseen circumstances, to be bold and say any of us know the path this will take could be dangerous.
Just as many position short the mkt will rise, just as the rise emblodens many it will fall....perverbial 2 headed snake.
Are we consolidationg to resume March 09 rally or did we top in April and readying for the next leg down?
I dont like ANY of the fundamental data, stocks move to different drummer, SUMMER months volume wanes....making predicting even more difficult.
Post a Comment