SPX confirming downtrend this morning - NO RETRACEMENT :)
Filter Dots show trend is already mid-level. We can get to blue support line without a break.
Watch for price to stop at 10WeekMA zigzag line. Will update chart around this time.
Looking at previous downtrends, we see that RSI normally goes to 30 before any price pause/small retracement.
We should expect a downtrend without pause until we hit RSI 30.
If we are not at support blue line or white line before we get to RSI 30, we should pause and continue downward.
I do not expect the market to tolerate this stall tactic from Trump. Article - Trump says it might be better to wait until after 2020 election for a China trade deal
www.cnbc.com/2019/12...or-a-china-deal.html
Jeff Gundlach - “In 2018, GDP grew by 5% while national debt grew at 6%. This implies the entire economic growth of 2018 was debt based.” He goes on to say that the “problem that causes the next recession will be interest rate manipulation (going to zero interest rates/QE money printing)” 7mins15sec into video www.youtube.com/watch?v=EPr7QbXS...
Let's not forget the taxpayer bank bailouts. Goldman Sacs ruined the housing market, got a $10billion taxpayer loan never to be payed back, outsourced 1000 jobs right after getting the money screwing American's further, and NOW Goldman Sacs is having one of the biggest stock buybacks EVER ....WITH OUR TAXPAYER DOLLARS!
investorplace.com/20...arge-share-buybacks/
thinkprogress.org/af...gapore-bce030854331/
Thank you for liking, commenting, throwing up a chart, following, or viewing.
I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts.
Disclosure - I am long MARA, GBTC, BTCUSD, GDX, VIXY.
Short SPY and AAPL.
Filter Dots show trend is already mid-level. We can get to blue support line without a break.
Watch for price to stop at 10WeekMA zigzag line. Will update chart around this time.
Looking at previous downtrends, we see that RSI normally goes to 30 before any price pause/small retracement.
We should expect a downtrend without pause until we hit RSI 30.
If we are not at support blue line or white line before we get to RSI 30, we should pause and continue downward.
I do not expect the market to tolerate this stall tactic from Trump. Article - Trump says it might be better to wait until after 2020 election for a China trade deal
www.cnbc.com/2019/12...or-a-china-deal.html
Jeff Gundlach - “In 2018, GDP grew by 5% while national debt grew at 6%. This implies the entire economic growth of 2018 was debt based.” He goes on to say that the “problem that causes the next recession will be interest rate manipulation (going to zero interest rates/QE money printing)” 7mins15sec into video www.youtube.com/watch?v=EPr7QbXS...
Let's not forget the taxpayer bank bailouts. Goldman Sacs ruined the housing market, got a $10billion taxpayer loan never to be payed back, outsourced 1000 jobs right after getting the money screwing American's further, and NOW Goldman Sacs is having one of the biggest stock buybacks EVER ....WITH OUR TAXPAYER DOLLARS!
investorplace.com/20...arge-share-buybacks/
thinkprogress.org/af...gapore-bce030854331/
Thank you for liking, commenting, throwing up a chart, following, or viewing.
I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts.
Disclosure - I am long MARA, GBTC, BTCUSD, GDX, VIXY.
Short SPY and AAPL.