Diamonds ETF Monthly Chart having a grim start to 2022. Wobble Top with wild price swings over the last five months. Jan 2022 has been the wildest yet.
Monthly chart showing a potential bearish engulfing print. With only 1-day left in January will they save it? Even if buyers do come to the rescue on the 31st, indicators point to DIA ultimately going lower in early 2022.
And while buyers may appear to be exiting in earnest this month, based upon an entrenched "BTFD" sentiment, my take is the real selling is just beginning. It likely won't take too much more pressure/bad news to start a real rout.
The dollar's strength/resiliency combined with JPOW's comments and live market reaction this past week are telling. Expecting at a minimum a quick retest of the recent Jan lows in early Feb, and likely sharply lower into March/April 2022. Long volatility and short just about everything else as the baby will likely be thrown out with the bath water this time. Great Reset Indeed.
Not financial advice.
Monthly chart showing a potential bearish engulfing print. With only 1-day left in January will they save it? Even if buyers do come to the rescue on the 31st, indicators point to DIA ultimately going lower in early 2022.
And while buyers may appear to be exiting in earnest this month, based upon an entrenched "BTFD" sentiment, my take is the real selling is just beginning. It likely won't take too much more pressure/bad news to start a real rout.
The dollar's strength/resiliency combined with JPOW's comments and live market reaction this past week are telling. Expecting at a minimum a quick retest of the recent Jan lows in early Feb, and likely sharply lower into March/April 2022. Long volatility and short just about everything else as the baby will likely be thrown out with the bath water this time. Great Reset Indeed.
Not financial advice.