If you have been following me for the last month, you seen that my last SP 500 analysis was far from bullish.
Today my narrative didn't change at all, but with one minor change. I think that we start seeing signs saying that the big machine has started.
Welcome to the crash people. If you have money in stocks, now is time to get out, If you have money in the bank, now is time to get it out. If you don't have gold, now is time to get some. Physical friends. No index, no margin longs with brokers. I am talking coins and bars you can hold in your hands.
Overkill? Maybe. I hope so. But this is the kind of situation where you will rather be ready for nothing than unprepared and crying.
Now lets start up with what you guys are here for. A good old TA.
2008 similarities: Double tops with MACD and RSI divergence. MACD crossover. Histogram turning red. All on the monthly chart. Making first top with high volume before a little correction. Making a little bit of a higher top with much lower volume and diverging indicators. Breaking the yearly uptrend support.
Guys. I am not joking and I am not the only person talking about this. Now is the time to get out. Don't wait until Banks,brokers and exchanges start to have liquidity problems.
I have no targets as of now, we will have to see how the problem is dealt with fundamentally.
If you like what you read, want more updates about the stock market, Gold and silver, and crypto currencies, You should follow me on here and twitter as I will always be ready for an analysis when things get interesting. Hit the like button, comment your ideas about what is going to happen and most importantly, trade safe.
Today my narrative didn't change at all, but with one minor change. I think that we start seeing signs saying that the big machine has started.
Welcome to the crash people. If you have money in stocks, now is time to get out, If you have money in the bank, now is time to get it out. If you don't have gold, now is time to get some. Physical friends. No index, no margin longs with brokers. I am talking coins and bars you can hold in your hands.
Overkill? Maybe. I hope so. But this is the kind of situation where you will rather be ready for nothing than unprepared and crying.
Now lets start up with what you guys are here for. A good old TA.
2008 similarities: Double tops with MACD and RSI divergence. MACD crossover. Histogram turning red. All on the monthly chart. Making first top with high volume before a little correction. Making a little bit of a higher top with much lower volume and diverging indicators. Breaking the yearly uptrend support.
Guys. I am not joking and I am not the only person talking about this. Now is the time to get out. Don't wait until Banks,brokers and exchanges start to have liquidity problems.
I have no targets as of now, we will have to see how the problem is dealt with fundamentally.
If you like what you read, want more updates about the stock market, Gold and silver, and crypto currencies, You should follow me on here and twitter as I will always be ready for an analysis when things get interesting. Hit the like button, comment your ideas about what is going to happen and most importantly, trade safe.