I'm sure everyone has seen this same trend line and same bear flag.
We tested it on Tuesday and we have begun breaking down.
This is a correction. Not a crash. Not 2008. Not 2000. Just a correction for now.
We will get a crash if the Credit Markets start collapsing and we don't have liquidity. We are not there.
2023 will be a shtshow. We will have a real crash next year sometime. For now we don't have any stresses in our Credit Markets.
We tested it on Tuesday and we have begun breaking down.
This is a correction. Not a crash. Not 2008. Not 2000. Just a correction for now.
We will get a crash if the Credit Markets start collapsing and we don't have liquidity. We are not there.
2023 will be a shtshow. We will have a real crash next year sometime. For now we don't have any stresses in our Credit Markets.
Bulls are pouncing on this news and potentially going to break higher above resistance. It all comes down to the FED meeting at the end of January.
Lower inflation numbers will continue to hide real inflation. Expect all assets... food.... oil.... gas.... stocks to rise. It's really in the FED's court right now if they want to allow this to happen.
As for trading, we made a higher low. If we break above $4,100, we are bullish. I will go wherever the market wants to go.