The most important chart you may ever see on the current US market is one derived from data on the European banking system. Why would a chart of European banking data would have anything to do with the US markets? Because in this interconnected world, “liquidity anywhere is liquidity everywhere.” And some of that liquidity flows to and through Wall Street sooner or later because US securities markets are the Last Ponzi Game Standing.
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Last week’s selloff did less damage than it may have felt like. The drop stopped in the area of 3 crossing uptrend lines, ranging in length from short term to long term. Here’s what would tell us whether the uptrend is still in force, or signal that something evil this way comes.
I have added 8 new stocks to the swing trade chart pick list, including 2 shorts.
These reports are not investment advice. They are for informational purposes, for a broad audience of investment and trading professionals, and other experienced investors and traders. Chart pick performance changes week to week and past performance may not indicate future results, as you know. Trading involves risk, and these reports assume that you understand those risks and manage them according to your tolerance.