A Lot of retail & banking stock are showing low volume prices at the top, like WMT, COST, HD,AXP, JPM and consumer discretionary like TSLA, but not so much in other sectors like Energy, Semi.
I think Banking and retail still have a way to go whereas Semi, energy, tech could be close to support
So a lot of the bubble stock were bound to burst. Trump just provided the catalyst and more. Warrren Buffet started selling before last August, thats when the bubble began forming in many stocks from what Volume profile tells me. The big boys like Buffet weren't buying. So the SPX should come back to last August level ie 5200, thinking logically thats where the smart money is waiting to buy. Of course that assumes there is no recession, else it could go lower
I think Banking and retail still have a way to go whereas Semi, energy, tech could be close to support
So a lot of the bubble stock were bound to burst. Trump just provided the catalyst and more. Warrren Buffet started selling before last August, thats when the bubble began forming in many stocks from what Volume profile tells me. The big boys like Buffet weren't buying. So the SPX should come back to last August level ie 5200, thinking logically thats where the smart money is waiting to buy. Of course that assumes there is no recession, else it could go lower
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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.