• 9 hours Can Twitter Sway Economic Policy?
  • 12 hours Widespread Power Outages Hit New York City
  • 15 hours Equifax To Pay $700 Million To Settle Data Breach Case
  • 17 hours Netflix Struggles To Rebound After Subscriber Hit
  • 2 days $15,000 For Your Crypto’s Ticket To Visibility
  • 3 days The Next Fashion Frontier
  • 3 days What Is Africa’s Role In The New Silk Road?
  • 4 days Trump Was Right About The Dollar
  • 4 days Is Silver Gearing Up For A Rally?
  • 5 days World’s Largest Hedge Fund Turns Bullish On Gold
  • 5 days It’s Time To Spend More On Clean Energy R&D
  • 5 days Contrarian Investors Are Beating The Stock Market
  • 5 days Bulgaria’s Revenue Agency Falls Victim To Biggest Cyber Heist In History
  • 6 days Amazon Faces European Union Anti-Trust Probe
  • 6 days Commodities Are Having A Stellar Year
  • 6 days Bezos’ Next Big Project Could Be Worth $100 Billion Per Year
  • 6 days 3,600 Years Later, Climate Change Turns Mammoths Into $40M Market
  • 7 days Tesla, Apple Claim China Is Stealing Intellectual Property
  • 7 days EV Giants Duke It Out For Battery Dominance
  • 7 days Tech Billionaire Takes Aim At Google
Market Sentiment At Its Lowest In 10 Months

Market Sentiment At Its Lowest In 10 Months

Stocks sold off last week…

The Problem With Modern Monetary Theory

The Problem With Modern Monetary Theory

Modern monetary theory has been…

  1. Home
  2. Markets
  3. Other

The State of the Trend

What a difference a week makes. Last week it was all gloom and doom, and I had to caution readers about being overly pessimistic given the overall technical picture and oversold market conditions.

This week the tables have turned. Market internals are as overbought as they come, and it's time to caution against excessive optimism.

Turning to the intraday chart, we find SPY firmly in the middle of the bear flag. The key levels to watch are clearly defined. A trip up to the top of the flag or a drop below 120 (1200 basis the SP-500), whichever comes first, should provide excellent shorting opportunities.

The channel chart supports this view as well:

Monitoring market sector rotation offers another useful way to spot early change in trend signs. The charts below are from my blog, and highlight the contrary nature of gold in this process:


Back to homepage

Leave a comment

Leave a comment