(For Those That Want To Know)
On yesterday’s show (Monday’s) I gave a scenario that one needed to be cognizant of a few things. The first: Earnings season begins in earnest. The second: You need to take into account the psychology of many that are both nervous of this fact, along with getting back to even and how they may handle it. i.e., They may start asking for their money back, regardless of what “gains” may be told/sold.
Below is a chart using yesterday’s price movements during the day session in the U.S. I’ve notated it to allow it to speak for itself. What happens next is anyone’s guess. However, what I will state is the following – all this enhances my arguments to my running commentary. And for those that aren’t that adept at technical analysis: These, once again, are almost too perfect text book examples. The issue here is that if they actually foretell or portend what’s in store for the “markets” going forward. All I’ll say to that is: It ain’t good.
As always, we shall see. Here’s the latest. To wit:
Note: Although there are disclaimers and statements everywhere on this site, and I state it routinely on my show as to make sure no one ever gets confused nor conflates my analysis and commentary to mean something that it is not. I feel compelled, once again, that it must be repeated because of sudden surges in web traffic:
For anyone that is thinking, or using any of my commentary in any way, shape, manner or form as “trading tips” or anything of the sort. They are not, nor are they to be assumed as such in any possible way. See the disclaimers or re-read the “About this site” documentation. For that is not what I do here.
© 2020 Mark St.Cyr