Here’s an ugly stock market chart prediction you might want to consider in planning your trading and investments.
This monthly chart makes the current action look like something from a horror movie, The Death of the Zombie Bull, bringing horror and destruction to millions of investors.
I have pointed out the long term trendline above 3020-30 several times in recent months. As August begins we’re looking at the potential for the third rejection from that line. Let’s see where we are in a few weeks.
Meanwhile, long term momentum, at the bottom of the chart, is on a sell signal. It’s also on the verge of breaking a trendline from the 2009 low. Sure these might be false warnings. They have been before.
But when viewed in terms of the age of this cycle, and the breaks of the long term price trends, do you want to bet that these are false signals?
I sure don’t.
I cover the daily and weekly charts with short term, intermediate, and long term price projections, and suggested short term SPY option trades in my Technical Trader reports. I’ve been following and reporting this inflection point for the past several weeks as it unfolds. Is this the end of an era, or just a fulcrum? We’ll know soon.
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