Loading ...Dead Cat Bounce situation. Nobody can away with taking losses,or hits like that and be whole again in a few months? Not seen in my lifetime. The SnP etc was rolling over all thru 2015 and into 2016, a tired bull running since early March 2009.
As soon as Trump started campaigning he and the Fed together created a lot of unreliable psychological confidence and optimism in the economy. and as far as I’m concerned, the 2015 psychology is returning, and no more financial bullets left. Their low interest rate, lower tax tools, and helicopter tools are played out.
Just look at the chart. Does it look healthy? Not to me, big warning signs. I see three big hits that got ignored. signs
https://finviz.com/futures_charts.ashx?t=ES&p=w1
P.S. SPY Chart. Look at the HIGH volume bars during the blow off top. Then look at the recent psychological rally as volume dwindles. I’m no chart pro, but higher price with little volume looks risky. Just a few die hard over confident players.
https://finviz.com/quote.ashx?t=SPY&ty=c&ta=0&p=w
Or the Fed??? Buying?? SELL TO THEM. LOL. Let them buy the tops. Bon Apatite.