SPY drop today
WSJ Headlines: Stocks Slide After Dow Cracks 29000, Pressured by Tech Major indexes dropped, with the Dow Jones Industrial Average falling around 800 points. Big tech companies, including Facebook and Apple, were leading the declines, contributing to the pressure on Nasdaq.
If Central banks are buying stocks, effectively nationalizing US corporations, just to maintain the illusion that their “recovery” plan is working because they have become the banks that are too big to fail you have a bubble. Add to that the big money is sunk into Tech stocks and you have a one huge bubble.
From my experience many cyclical indicators do not do well finding tops or the end of trends on the daily charts.
Indicators like Ehler's smoothed RSI on the daily chart, and others close late, while the 4 hour chart shows most indicators do a better job, here with the MoTrend and Ehler's smoothed rsi. You see stock prices topped the chart with MoTrend and rolled over with the smoothed RSI.
Here is a 4 hour chart which accurately shows you had time to exit stocks early, buy puts or inverse ETFs, etc.
If Central banks are buying stocks, effectively nationalizing US corporations, just to maintain the illusion that their “recovery” plan is working because they have become the banks that are too big to fail you have a bubble. Add to that the big money is sunk into Tech stocks and you have a one huge bubble.
From my experience many cyclical indicators do not do well finding tops or the end of trends on the daily charts.
Indicators like Ehler's smoothed RSI on the daily chart, and others close late, while the 4 hour chart shows most indicators do a better job, here with the MoTrend and Ehler's smoothed rsi. You see stock prices topped the chart with MoTrend and rolled over with the smoothed RSI.
Here is a 4 hour chart which accurately shows you had time to exit stocks early, buy puts or inverse ETFs, etc.
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