Loading ...T Minus 5 & Counting
Today, starts the countdown clock until the stock market is ready to begin a new, major leg down. The charts, technicals and lead stocks project the stock market to finish this minor rally phase at either Tuesday’s(4/4) close or Wednesday’s(4/5) open. If you still have major stock market positions in S&P index funds in IRA’s and 401k’s you might want to move them into either t bills or gold and silver miners or funds. CEF and PSLV are my favorite vehicles. While a sharp drop may not begin immediately, it is unlikely that the major stock averages have much, if any, upside left after next week’s top.
CM – agreed with your assessment- thank you for that- do you think the miners will feel the down drag for a while in concert with the stock market
No, I do not for two reasons. The stock decline might be more of a drift down rather than a crash, at least initially, and more importantly gold and silver should be rising, so that will support the miners.
Sir CM,
As per a tweeter with a great track record of calling short term and medium term stock market direction, the top in the broader stock markets was on March 21 / 22.
Of course, it remains to be seen if they are proven wrong. We have the all important monthly and quarterly closes coming up in less than 51 hours from now.
https://twitter.com/PKDayTrading1/status/1638205437894959107
https://twitter.com/PKDayTrading1/status/1638636088058052613
One of these will soon break:
https://www.zerohedge.com/markets/ndx-enters-technical-bull-market-bond-sell-loses-momentum-and-yen-longs-unwind-newsquawk-us
OR
https://finance.yahoo.com/news/sleepy-schwab-bond-fund-notches-184051170.html
My guess is the “sleepy” bond fund wins. Yields plummet for some time, NDX paints reversal by the end of the month and quarter, and heavy selling ensues in April. Earnings season starts soon.
GL