liberatedstocktrader
Short

WARNING:Serious Downside Possible Says Top Italian Mathematician

SP:SPX   S&P 500 Index
Breaking news, a world-famous Italian mathematician by the name of Fibonacci is suggesting there is more downside to the U.S. stock markets.

Using Mr. Fibonacci's magic numbers, from the 2016 low on the SPY we see that the retracement fits very well mapping out the support levels if the market continues to tank.

The 23% retracement of the last major trend is broken. Next stop is 38% or even 50% retracement of the trend down to 2400 points.

Interesting also to see the one year RSI divergence in place and showing no signs of recovery.

It does not have to be this way, some major macro-economic news could change this. But the only news the market wants is rate cuts. And rate cuts are not good for the long-term.

Mr. Market will need to take his medicine to get better.

Current Trends According To DOW Theory:
Short-term - Down
Medium Term - Down
Long-Term - Up

Remember, all you traders make up only 10% of the volume of the markets. The biggest losers in the crash are the hedge funds and mutual funds and all the Algo Trader living on borrowed money.

Do not stay invested hoping for an up move, that will hurt.

As our Italian friend would say - MAMA MIA

Stay safe.

Barry
I think this 7,000 Nasdaq ia a key level and its in play as we speak
Reply
The RSI trend looks shocking. Thanks.
Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out