The market is in a very precarious position.
Last week's downside debacle wiped out 4 weeks
of upside price to all time highs,. in one fall swoop.
Risk is now elevated
No one would want to be part,of a very rapid descent down..
thus the element of surprise is now very high.
My own read of the charts, in all time frames,
suggests a possible immediate decline
to S+P 500 3250.
It's a big round number. It had better hold.
Downside risk from there, if big money support breaks
at that point
..is unknown.
THE_UNWIND
2/23/20
NEW YORK
THE
Last week's downside debacle wiped out 4 weeks
of upside price to all time highs,. in one fall swoop.
Risk is now elevated
No one would want to be part,of a very rapid descent down..
thus the element of surprise is now very high.
My own read of the charts, in all time frames,
suggests a possible immediate decline
to S+P 500 3250.
It's a big round number. It had better hold.
Downside risk from there, if big money support breaks
at that point
..is unknown.
THE_UNWIND
2/23/20
NEW YORK
THE