Jump to content

This Chart Shows Why You Should Be Very Afraid of the Stock Market - 12/3/21

Rate this topic


Recommended Posts

In short, lower highs and lower lows, with multiple attacks and failures at sport lines. Aka "support" for the uninitiated and uninoculated. If this was a daily chart, it would be a bear market.  No doubt that's coming. This is what the stock proctology cycle chartists call a fartcall of things to come. 

But of course, hope  springs eternal in the hearts of US traders and Federal Reserve chart technicians. So as they got to their screens earlier this morning, the market began to rally smartly, or should we say "stupidly," again. 

The 2-3 day cycle projection is 4605. They got to 4601 so far. Close enough? I'm not sure. There's not quite enough data for a 5 day cycle projection yet. Another hour or two for that.

A sharp enough pullback in the early going in regular trading would set up another lower high. There's a ton of resistance 4595-4605. If they clear it, back to 4630 we go. If they don't, bears ball with great field position. 

tvc_bb1da5b7c057622160a13964582640c7.png

 

More later! Meanwhile, the big picture. 

Here’s What to Key on With Gold on the Brink of Failure

Second, Even Bigger, Explosion of Sell Signals in Swing Trade Screens 

Market Variant Not As Bad As It Looks

When the Fed Balance Sheet Will Hit the Fan

If you are a new visitor to the Stool, please register and join in! To post your observations and charts, and snide, but good-natured, comments, click here to register. Be sure to respond to the confirmation email which is sent instantly. If not in your inbox, check your spam filter.

Link to comment
Share on other sites

  • Replies 17
  • Created
  • Last Reply

Top Posters In This Topic

Top Posters In This Topic

Guest
This topic is now closed to further replies.
 Share

  • Tell a friend

    Love Stool Pigeons Wire Message Board? Tell a friend!
  • Recently Browsing   0 members

    • No registered users viewing this page.
  • ×
    • Create New...