Well folks the time has come. As of this moment, the bull market in my opinion is seriously on the ropes. One simple indicator will tell you the long term trend has changed and that is all you need.
#It is the 200 day MA.
I am a huge fan of buying low and selling the rippers myself. Today was a wash for me but I believe a bounce in the next 72 hours is overdue. Tops are processes and we have had quite the grind up from the volatility spike this past summer. I believe that it is very possible that a larger top is in play here and as long as we are under the 200 day MA there is ZERO REASON to be buying LONG TERM.
I second everything you said here!
Not even earnings are helping! Looking at chip sector and how they are looking so bad... Interesting to see how the rest of the earnings season plays out and where we go from there.
yeah next few candle likely for short bounce test 200MA again, possible top HS 260 neckline before it really tumble down. Wonder what's gonna be the trigger on news headline if it happen