Community post
This Chart Does *NOT* Look Good..
What is this, a BTC chart?
Ripple maybe?
The STOCK Market! wait, What?!
Okay, corrections happen no biggie... Cramer says buy the dip and he has a television show so...
But wait, is that... is that a dead cat?
The WallStreetJournaldefines a dead cat bounce as such:
Even worse, what raises my spider-sense is that last red candle on the right side of the chart. It's what known as a "Shooting Star". In technical analysis, a shooting star is interpreted as a type of reversal pattern presaging a falling price.
I was fully expecting the general market correction to be short lived, because y'know.. the PlungeProtectionTeam. Now I'm not so sure..
One things for certain though, we're gonna need to strap in because,
Volatility is BACK!
And it's going to be a bumpy ride.
Until Next Time
It's your move.
JESS
Thanks for reading, if you enjoyed this rant, you might also enjoy some of my Recent Articles:
"I think they're all Worthless. I think they're the 21st century version of a Chain Letter"
Replies (5)
Yes, a lot of turbulences latelly. It's bumpy, but let's see what a view will follow ;)
It could be the start and people might start going to precious metals soon. But right now, they are still going down every day.
Yeah, I thought February would be the breakout for precious metals, but it wasn't able to break the strong resistance around 1,300, so we'll likely have to wait until April to have another shot of making it into the $1,400's.
Totally agree. Price on the DOW bounced off my weekly demand at 23,500, then hit my 1st target at 25,000. I anticipate price hitting my 2nd target at 26,000. However, after that, I'm getting defensive. Might be another selling opportunity for the Big Boys, but they need a lot of Retail Investors to buy thinking the Markets are going to break all-time highs. I'm going to wait for price action to tell me what my next move should be
Always a wise decision @rollandthomas.
As for the markets, it seems about half the analysts I read expect a blow off top for the next 1-5 yrs, while the other half are already actively shorting the market. I've found it far easier to let the next guy have the last 10% as they say.