ridethepig | Buyers in Difficulty
Updated
đź“Ś A timely update to the S&P weekly chart, where we can see clearly sellers are provoking the breakdown into some sort of waterfall.
All Global Equity charts look very similar with the traditional struggle between the defending fast money crowd and the more MT and LT sharks who are aware that the momentum is stalling and are itching to load at cheaper levels.
What is becoming clearer by the day is that Fed has blown a bubble which is exposed to a second round of lockdowns and a contested election will prevent any from hanging on. Here sharp speculators will have to bite the bullet and hold shorts while looking to reload full positions at the highs. Tracking closely 3,000 and 2,900 as the next areas of interest.
Thanks as usual for keeping the feedback coming đź‘Ť or đź‘Ž
All Global Equity charts look very similar with the traditional struggle between the defending fast money crowd and the more MT and LT sharks who are aware that the momentum is stalling and are itching to load at cheaper levels.
What is becoming clearer by the day is that Fed has blown a bubble which is exposed to a second round of lockdowns and a contested election will prevent any from hanging on. Here sharp speculators will have to bite the bullet and hold shorts while looking to reload full positions at the highs. Tracking closely 3,000 and 2,900 as the next areas of interest.
Thanks as usual for keeping the feedback coming đź‘Ť or đź‘Ž
Note
Eyes here today for the Frankfurt and NY opens
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