Exactly What You Need At A TOP
This type of wrong headed analysis showing the last bears giving up and joining the bulls is what happens at the TOP. As good as the chart and breakout of CMG looks, it represents a market cap of only $56 billion dollars compared to the topping out of AAPL at a market cap of $2.6 TRILLION dollars. My companion post regarding Apple topping out this week before their earnings after Thursday’s close is going to leave the market with a “Wile e Coyote” moment as it realizes it went over the cliff and there is nothing below to support it. As I say in that piece, get out of stocks and mutual funds this week, while you still can. https://goldseek.com/article/why-permabear-certain-were-going-much-higher
This just posted by ZeroHedge provides evidence that burst higher in CMG isn’t going much higher from here. https://www.zerohedge.com/markets/chipotle-and-dominos-customers-begin-cutting-back-delivery-orders