That's one to the bears.
Price hammered through multiple support levels.
Daily 200 SMA broken across the indices.
Large stop loss areas taken out.
All we need now is a rally from a bit below current price around 25,500, and then a rally to around 27,500. This is where our big shorting opportunities come.
If this happens and then we break the lows made here, we may enter into the biggest bear market of most of our lifetimes.
The leg we've witnessed over the last week does not look like a "Dip" move. It looks like a well due bearish breakout leg. It looks like it might be a real breakout, not one of the warning signs of earlier.
Real breakouts happen in three waves. This would only be the first (and the first is often the smallest, the second is always the largest).
You should warn anyone (you like) who has exposure to this. This will not be pretty for the people who think they can sleepwalk through it. They'll get an alarming wake up call.
Price hammered through multiple support levels.
Daily 200 SMA broken across the indices.
Large stop loss areas taken out.
All we need now is a rally from a bit below current price around 25,500, and then a rally to around 27,500. This is where our big shorting opportunities come.
If this happens and then we break the lows made here, we may enter into the biggest bear market of most of our lifetimes.
The leg we've witnessed over the last week does not look like a "Dip" move. It looks like a well due bearish breakout leg. It looks like it might be a real breakout, not one of the warning signs of earlier.
Real breakouts happen in three waves. This would only be the first (and the first is often the smallest, the second is always the largest).
You should warn anyone (you like) who has exposure to this. This will not be pretty for the people who think they can sleepwalk through it. They'll get an alarming wake up call.