Good Afternoon,
I took a look at some of the Indices and checked out stocks both here and overseas and It
it don’t look pretty. The wheel is in motion as I mentioned the other day in my piece entitled.
“P=MV. P=MV: Momentum Remains The Same Before And After A Crash”
Forced selling will hit the NASDAQ. Bloomberg had a great article pointing out the fact that
The last time the S&P 500 fluctuated by more than 1% for 5 days was at the start of February,
which was the indexes only negative month this year. We just completed 5 Days of fluctuation
and if Bloomberg is correct we are on the precipice of 28.8 Billion worth of forced selling! which would make sense since the trend changed from Bull to Bear Stocks usually take the stair case up and the Elevator down. Don’t get caught on the Elevator. Watch the VIXX, we are due for a run up which is a
good reason to short or go to cash as well. The Fed Minutes come at 2PM today and it looks like they were obviously leaked. Pay attention to all the critical support and resistance levels I have pointed out recently and realize we are in a pattern of Lower Highs And Lower Lows which is also a very bearish sign.
All Below Their 50 Day Moving Averages
TSLA- Falling Knife so Stay Short
ARKK
SMH
EEM- Emerging Markets
QQQ
AAPL
MSFT
DAX
Nikkei
NVDA is NEXT
