Michael Burry Bets $1.6B On Market Crash - Dow Jones Down 500+
Michael Burry has placed a substantial $1.6 billion bet on an imminent stock market crash, representing 90% of his firm's assets.
Known for his accurate prediction of the 2008 US housing market crash which netted him $100 million, Burry's recent move follows a 500-point drop in the Dow Jones in just two days.
Despite this downturn, the Dow Jones has shown a positive trend in 2023, rising over 1,500 points. It's vital for investors to discern between short-lived market shifts and long-term trends.
An in-depth analysis of the Dow Jones reveals a robust support level from December 2022 at $34,712, further reinforced by the daily 50 SMA just beneath.
This strong support could be pivotal in pushing the index upwards, potentially eclipsing its January 2022 record high of $36,952.
Known for his accurate prediction of the 2008 US housing market crash which netted him $100 million, Burry's recent move follows a 500-point drop in the Dow Jones in just two days.
Despite this downturn, the Dow Jones has shown a positive trend in 2023, rising over 1,500 points. It's vital for investors to discern between short-lived market shifts and long-term trends.
An in-depth analysis of the Dow Jones reveals a robust support level from December 2022 at $34,712, further reinforced by the daily 50 SMA just beneath.
This strong support could be pivotal in pushing the index upwards, potentially eclipsing its January 2022 record high of $36,952.
Join Our Private Community
bit.ly/join-ST-community
Plus Get Our Ultimate Stock Market Blueprint.
bit.ly/join-ST-community
Plus Get Our Ultimate Stock Market Blueprint.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.