Now that the bears that were banking on solid resistance at 50MA are mostly taken out, I think we will end today solidly in the green and have a TEMPORARY reversal early next week. I still think that we can resume the rally after this correction. As you can see, the MFI-7 is WAY overbought, and judging based on past accuracy, i'd say we're due for a correction so I will be shorting early next week. Also note the thinly traded volume of late.
The economy is clearly slowing and it feels very reminiscent of 2008 but I dont think shit will hit the fan until 2020. There are some even risks that could pop us up higher which include resolving the government shut down and also working out a deal with China. However, the global economy is clearly slowing and when China sneezes, the US catches the flu..
The economy is clearly slowing and it feels very reminiscent of 2008 but I dont think shit will hit the fan until 2020. There are some even risks that could pop us up higher which include resolving the government shut down and also working out a deal with China. However, the global economy is clearly slowing and when China sneezes, the US catches the flu..