The Great Equalizer.. Market Shocks The Crowd To The Downside
It seems just like yesterday. The day after Thanksgiving.
The market market making historic highs, bears completely decimated
and online retail getting for Black Friday and Cyber Monday
ready to spend 9.4 Billion $ on things that they might not really need.
Well flash forward to this week.
A giant Noreaster snowstorm pounds New York,
and the Northeast with over a foot of wind blown snow, and brutal cold weather.
The holiday's are over now.
It's December, the beginning of a potentially long cold winter.
Just one look at the stock market this week should remind anyone who doubts..
just how risky the stock market can be, in an instant and how very risky it is, to be so
what is the word.. complacent.
The chart I am showing you here is very important.
It is the 3 Box Chart 30 Minute Chart of the S=P 500.
It shows that this weeks sell off,is snapping right back to the bullish breakout point, around 3070
This is where bullish longs need to step up, and buy this decline, if support is to hold.
Suddenly,the tide has turned.
And before you could even count up all those credit card bills,
that got you into all of that Thanksgiving holiday cheer,
it's time to pay the piper.
Golly. Who woulda thunk.
THE_UNWIND
12/3/19
NEW YORK
The market market making historic highs, bears completely decimated
and online retail getting for Black Friday and Cyber Monday
ready to spend 9.4 Billion $ on things that they might not really need.
Well flash forward to this week.
A giant Noreaster snowstorm pounds New York,
and the Northeast with over a foot of wind blown snow, and brutal cold weather.
The holiday's are over now.
It's December, the beginning of a potentially long cold winter.
Just one look at the stock market this week should remind anyone who doubts..
just how risky the stock market can be, in an instant and how very risky it is, to be so
what is the word.. complacent.
The chart I am showing you here is very important.
It is the 3 Box Chart 30 Minute Chart of the S=P 500.
It shows that this weeks sell off,is snapping right back to the bullish breakout point, around 3070
This is where bullish longs need to step up, and buy this decline, if support is to hold.
Suddenly,the tide has turned.
And before you could even count up all those credit card bills,
that got you into all of that Thanksgiving holiday cheer,
it's time to pay the piper.
Golly. Who woulda thunk.
THE_UNWIND
12/3/19
NEW YORK
Comment:
Correction:
Chart shown above
is a Weekly S+P 500 Chart,
with the 3 Box Weekly Indicator of Support.
Chart shown above
is a Weekly S+P 500 Chart,
with the 3 Box Weekly Indicator of Support.
Note how It has sold off as much in 1 week,
that it took 4 weeks of rally to achieve.
Not a good sign, at first blush.
That's momentum kicking in strongly to the downside.