Loading ...I love that chart. It shows everything a pm stock investor needs to know. Every rally is very short in duration – usually a year or less, usually around six months. OTOH, every pullback goes on for at least two years, but usually longer. The first few months of the pullback usually wipes out 50% or more of the move up and occurs within less than six months and then drags on for another two years before bottoming.
This current move down has wiped out 50% in a couple months.
What’s the takeaway? I’d say if we continue down for another month, it will wipe out all gains from the previous six months. Seems imperative that the pm shares turn higher right here, right now, and break above that downtrend line. Place your bets.
We are strengthening this am with the 9 am hour quickly approaching. $2650 has been breached. This sector needs some big moves up, pronto.
We’ll see.