No doubt about it, we are in Stage 4 downtrend. All of my indicators are in the red. The last one to go red is the global DOW which is now below its 30 week moving average.
Another indicator to watch is the 10 week moving average vs the 30 week moving average. The cross has occurred with the NASDAQ taking the most heat.
The Russian invasion of Ukraine is sadly a driver, along with inflation (gas prices anyone?), and supply chain issues. For once, COVID is not behind the bad news as most states lift their mask mandates and hopefully we return back to normal.
CNN's Fear and Greed indicator is at the lowest I've seen in a long time.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.