To crystallize all of this into one chart: look at world ex-U.S. Here's one such ETF, SPDW.
2022-09-06
Technical Traders Say Buy, Charts Say Plunge-O-Rama
Some technical traders I follow are looking for a squeeze here. The charts are on the verge of "bombs away." A rally won't last very long, but it could hammer short-term traders.
The major indexes are still off their lows.
This is one of those moments when many traders might get psyched out by a rally, thinking the worst news is all priced in. Nothing is priced in. If there's an equity squeeze, it could be triggered by market internals or a rebound in yen, euro and bonds. Otherwise, look at 2008. Nothing will stop the freight train of selling that will begin if this market busts lower with authority.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment