S&P500 Dump ignited?
Updated
As I indicated in my update last week, that extremely low volatility combined with very high RSI seems to be kicking a dump on this fine Monday. Will the dump last? Quick buy back? Will we see a repeat of last year heading into the holidays?
The final trip down that led to the capitulation of 2018's dump started on Dec 4th, 2 days from now, which culminated with the plunge protection team saving the day, the day after to Xmas.
I think we have a real potential to see at least a touch of the 200 MA (blue line) ~2920, but if this thing really gets rolling, we could see a repeat of 2018 and take a trip all the way down to the 1000 MA (red line), which would be really bad especially if it was going to happen in 2019.
Obviously hard to say at this point, but the past 6 weeks of "nothing but up" has been kind of ridiculous even for the ponzi stock market.
Hope ya'll took my short call!
Stay tuned!
The final trip down that led to the capitulation of 2018's dump started on Dec 4th, 2 days from now, which culminated with the plunge protection team saving the day, the day after to Xmas.
I think we have a real potential to see at least a touch of the 200 MA (blue line) ~2920, but if this thing really gets rolling, we could see a repeat of 2018 and take a trip all the way down to the 1000 MA (red line), which would be really bad especially if it was going to happen in 2019.
Obviously hard to say at this point, but the past 6 weeks of "nothing but up" has been kind of ridiculous even for the ponzi stock market.
Hope ya'll took my short call!
Stay tuned!
Note
THE DUMP CONTINUES!
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