Technical analysis for me is observation, patterns....probabilities. We can look at charts and not think of any news, earnings or Jim Cramer rants.....we just observe.
Last 30 YEARS no period looks like last 10 years. NOWHERE do we observe "MULTI YEAR" NEW LOWS on the chart....as we have above.
Nor do we see 2 highs spanning 7 years or so ending at near same level (DOUBLE TOP...) If MACD crosses down again, that would be evidence BEAR growling once again (if not already)
Recession declared OVER in media, not by gov BLS, not by economic data nor BOND YIELDS.
IMHO it is tread lightly, stay OUT of debt....own some gold......for me personally I choose not to be long stocks in general......from a technical standpoint, I guess one can always find a few to play....but I understand its play not to love.
D
2 comments:
"Possible?" It IS a head and shoulders. nice chart. however take a look back at the Nikkei chart you posted some days ago. see the insane rallies. Its tricky to be short. Long term buy and hold is dead for a decade at least.
It's been dead for 10 years here...most have NO idea what is going on....financial advisors haven't changed their stupid ass tune....individuals hopefully will.
Post a Comment