Just two hours "before" the 2 pm Wed Fed announcement
on policy and interest rates very big money had started to sell US stocks..
The selling continued almost unabated for the remainder of the week,
picking up heavy volume Friday afternoon, with S+P 500 Futures
closing the week at a significant discount to cash.
There were clear warnings that this was coming.
Big bank stocks, as I had written about previously were diverging bearishly, as the S+P 500 hit all time highs.
JP Morgan Chase, a $170 stock just a week or so ago,ago, traded at 149 on Friday.
Thats a sharp move down for one of America's largest banks,
with heavy volume fleeing for the exits seemingly all at the same time
What did they know ?
And why did the selloff start just before the Fed announcement ?
The Dow Jones Industrial Average had started rolling over a week ago.
It was staring you in the face on a Dow chart for days, prior to the S+P 500 selloff
Or did you simply choose to ignore it ?
The ol adage of "follow the money" simply gave you clear warnings, that something was amiss.
Rampant bullish sentiment measure, multiple consecutive weeks over 60% Bullish in the Market Vane Survey of traders,
showing again massive and consistent stock market complacency.
My own take on this sharp selloff is that it's only the beginning.
I had warned you two weeks ago, to get out of long positions in the US stock market
This kind of stock market decline from all time highs won't stop on a dime.
There will follow thru next week. as soon as Monday morning.
It could only escalate if key technical support price areas fail on big volume.
Watch major key big money support at S+P 4150.
If that gets taken out on a close,
then you could be looking at a much broader and deeper selloff than "anticipated "
Why ?
Because the public is going to want to get in on the action,.. too.
THE_UNWIND
6/19/21
Woods of Connecticut.
on policy and interest rates very big money had started to sell US stocks..
The selling continued almost unabated for the remainder of the week,
picking up heavy volume Friday afternoon, with S+P 500 Futures
closing the week at a significant discount to cash.
There were clear warnings that this was coming.
Big bank stocks, as I had written about previously were diverging bearishly, as the S+P 500 hit all time highs.
JP Morgan Chase, a $170 stock just a week or so ago,ago, traded at 149 on Friday.
Thats a sharp move down for one of America's largest banks,
with heavy volume fleeing for the exits seemingly all at the same time
What did they know ?
And why did the selloff start just before the Fed announcement ?
The Dow Jones Industrial Average had started rolling over a week ago.
It was staring you in the face on a Dow chart for days, prior to the S+P 500 selloff
Or did you simply choose to ignore it ?
The ol adage of "follow the money" simply gave you clear warnings, that something was amiss.
Rampant bullish sentiment measure, multiple consecutive weeks over 60% Bullish in the Market Vane Survey of traders,
showing again massive and consistent stock market complacency.
My own take on this sharp selloff is that it's only the beginning.
I had warned you two weeks ago, to get out of long positions in the US stock market
This kind of stock market decline from all time highs won't stop on a dime.
There will follow thru next week. as soon as Monday morning.
It could only escalate if key technical support price areas fail on big volume.
Watch major key big money support at S+P 4150.
If that gets taken out on a close,
then you could be looking at a much broader and deeper selloff than "anticipated "
Why ?
Because the public is going to want to get in on the action,.. too.
THE_UNWIND
6/19/21
Woods of Connecticut.