SPX BBS - The S&P's Bull Bounce to the Slaugtherhouse...
It's either a descending triangle or simply a downtrend channel but it's bearish short term. I'm happy to hear from other technical traders on this. Investors are getting killed and with countries worldwide going in full panic mode with this "deadly"??? virus, earnings and dividends will get flushed and the poor retired person will experience was dot com investors suffered in 2000 and GE pensioners & investors holding the old GE stock suffered in 2007/2008. This is a race to zero and only the very strong will survive. Amazon is not only the #1 cloud provider in the world but also become the near monopoly in delivering goods from food to toilet paper. If you're want to invest, wait for the confirmed recovery and jump on a long term hold like AMZN.
This virus isn't deadly to humans but it's going to be deadly for long term investors who ride these confirmed crashes down. Do not trust the markets. Bottom line. Dangerous unchartered territory out there. Check the historical charts. Can you say "hyper inflation" because the value of money goes down with massive printing (it's called monetary dilution and just as with equities, it catches up at some point). There are no "circuit breakers" for that. Best to miss the "bull bounce to the slaugtherhouse" until the bulls have regained firm control. Bears are enjoying each bump down. Say out overnight on any positions (long and short). Shorts will get killed as they have when they got greedy in 2008. History repeats itself but don't underestimate FEAR and GREED. This is the new trend which will make the markets even more volatile. Toxic for investors as experienced traders get massive gains trading wild intraday swings. This is clear bear territory. Bulls, don't enter unless you really know what you are doing because the charts indicates this market selloff isn't over. The rebound will be spectacular once the extreme bearish views subsides.
Although the charts are SHORT, I would not short overnight. When this rebounds, shorts will need as much toilet paper as bulls needed.
This virus isn't deadly to humans but it's going to be deadly for long term investors who ride these confirmed crashes down. Do not trust the markets. Bottom line. Dangerous unchartered territory out there. Check the historical charts. Can you say "hyper inflation" because the value of money goes down with massive printing (it's called monetary dilution and just as with equities, it catches up at some point). There are no "circuit breakers" for that. Best to miss the "bull bounce to the slaugtherhouse" until the bulls have regained firm control. Bears are enjoying each bump down. Say out overnight on any positions (long and short). Shorts will get killed as they have when they got greedy in 2008. History repeats itself but don't underestimate FEAR and GREED. This is the new trend which will make the markets even more volatile. Toxic for investors as experienced traders get massive gains trading wild intraday swings. This is clear bear territory. Bulls, don't enter unless you really know what you are doing because the charts indicates this market selloff isn't over. The rebound will be spectacular once the extreme bearish views subsides.
Although the charts are SHORT, I would not short overnight. When this rebounds, shorts will need as much toilet paper as bulls needed.