This week, the market threw the bears in for yet another shocking reversal, just as it seemed the tide was finally turning. It knocked the bears over with a "history making" week of 1% overnight gap ups. That is until Friday, when the gap direction suddenly turned back in the bears' favour.
So what's the deal? When in doubt, I look at this more ancient and comprehensive market index that is not as deformed by bloated tech stocks. And what is this wiser signal telling me? Looks like we have formed a major double top with significant down turn technical signals in place. This includes, weekly RSI divergence, weekly red MACD, titanic crash warning, hindenberg crash warning, rising vix, rising bond prices, consolidating metal prices, falling liquidity, falling oil prices, fully completed elliot wave cycle, apple falling, and tsla (finally) falling.
Should this evidence suffice? Who knows? All I know is I have started my battle plan and I intend to outlast the central banks with my friends. Short until end of 2021 (at least) and will hold through all illusionary (manipulated) rallies.
Good luck all!
So what's the deal? When in doubt, I look at this more ancient and comprehensive market index that is not as deformed by bloated tech stocks. And what is this wiser signal telling me? Looks like we have formed a major double top with significant down turn technical signals in place. This includes, weekly RSI divergence, weekly red MACD, titanic crash warning, hindenberg crash warning, rising vix, rising bond prices, consolidating metal prices, falling liquidity, falling oil prices, fully completed elliot wave cycle, apple falling, and tsla (finally) falling.
Should this evidence suffice? Who knows? All I know is I have started my battle plan and I intend to outlast the central banks with my friends. Short until end of 2021 (at least) and will hold through all illusionary (manipulated) rallies.
Good luck all!