Page menu

Tuesday, October 8, 2019

Market Update 10/8/2019 - Market Sells Off As Predicted Yesterday

In yesterday's update, I predicted that the market could hold up for a day (or 2) before breaking the 50 day moving average (again). I even alerted to this trade in the public charts area, telling folks to, "sell into Technical Tuesday", and by the close that (now broken) moving average was already flashing a SELL SIGNAL.    

We're seeing futures only down less than 1%, and even Bloomberg host is asking, "shouldn't the market be down more"? lol That was my 3rd prediction - that this would only look like a pullback, and it does....   There's a lot more I could reveal about this reversal, but I like to give away all my secrets.

 This reversal, looks like a good reason to take profits and fill the gap left behind around the 2900 area, as well as the gap left behind on the $VIX. 

Of course Energy was sold, and if you were watching the energy chart - located in the public charts area, you saw that alert. Closed down 1%.

I haven't given up on energy, but you don't see buyers stepping in there... it's a dead trade at the moment. 

A link to the public charts area can be found in the left hand menu

That's all I got today,



No comments:

Post a Comment