2022-10-02

Rally or Crash Charts

I have a zoomed out view of FedEx, the rest are zoomed in, but have broken long-term support lines. FDX faked lower and then rebounded. That's what it possible with the rest of the market here. The alternative is that like Nike, the market freefalls from here. There are divergences that suggest we are in "buy mode" for markets. The problem, again, is that crashes can happen with these divergences. Additionally, a massive short-term rally could be followed by much lower index values as it was in 2008. To say rally here doesn't say if its a day, days or a significant tradable low similar to June. I strongly lean towards former rather than the latter here on October 2 though.

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