That’s what it feels like as the market sinks a little more day after day. Some days more than others. And that’s the thing. Because the slope of the decline is becoming less severe. In other words, downside momentum is waning. That can only mean one of 3 things so pay attention.
The first option is that the waning negative momentum will finally exhaust itself. Momentum will turn positive in absolute terms and prices will rise.
The second option is that negative momentum will increase and the market will crash.
The third option is that everything will come to a standstill and the market will settle into a trading range.
There you have it.
This type of in depth analysis is why they pay me the big bucks. To know more about whether the market will go up, down, or sideways from here, or at least how to tell, see Prime Time for Danger and Opportunity.
As for today, in order to actualize some upside, the ES 24 hour S&P futures need to at least clear 4285. Failing that, bears keep the ball for, first, a test of the low at 4238.5. Then we’d see.
My favorite whipping boy, the stinking, fetid bond market continues to be the garbage dump of all investments. This is exactly as I forecast two years ago, and have steadfastly held to that view. The Rhymes of History
Another disaster in the making, gold. Gold on the Brink of Secular Trend Sell Signals
For moron the markets, see:
- Screen Picks – Still Longing for a Bottom September 26, 2023
- Prime Time for Danger and Opportunity September 25, 2023
- The Rhymes of History September 24, 2023
- Gold’s Flat Squeeze Tightens September 21, 2023
- Screen Picks – An Awful Week, But Hold On a Minute! September 18, 2023
- Here’s Why This Stuck Market Is Not Surprising September 13, 2023
- Beware! Jobs Really Much Weaker Than They Say September 4, 2023
- Here’s Why This Is a No Clickbait Market for Primary Dealers August 24, 2023
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