Well the market is officially in correction mode. All indicators are in the red zone. The FANG stocks are leading the way, plus apple, resulting in a downturn for tech. Hard to believe considering they were the darlings of the market a few months ago.
CNN's Fear and Greed indicator is firmly in Extreme Fear.
Bitcoin has dropped to $3,974!
We are still in stage 3 because the 30 week moving average has not turned down. It is flat at this point.
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I read the tape, not the news!
Monday, November 26, 2018
Monday, November 12, 2018
Stock Market Analysis: Stage 3
By the look of things the market is in Stage 3 territory. The major indexes are closing below the 30 week moving average. The 30 week moving average is still sloping up however so I am calling it a choppy market at this point.
CNN's Fear and Greed Index is at Extreme Greed. Let's see what the week ahead brings.
CNN's Fear and Greed Index is at Extreme Greed. Let's see what the week ahead brings.
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