Just a quick note this evening...
It is my strong view that today represented a key downside reversal day in the U.S. stock market. Daily Chart Sell Signals were triggered by my computer trading system in the following major U.S. stock indices:
NY Composite Index
S&P 500 Index
S&P 100 Index
Russell 2000 Index
Dow Jones Transportation Index
And Daily Chart Sell Signals were triggered in the following sector ETF's:
IWM, IWN, IYT, DVY, OIH, RTH, XLE, XTN
And a Daily Chart Sell Signal was triggered in my own FAANG Composite Index.
Bottom line: A major decline in the U.S. stock market probably began today! Traders and Investors can probably expect the closely watched 200-day moving average line in most major benchmark indexes to be convincingly broken on the downside over the very near term as a correction of at least 20% unfolds over the next several months!
 |
| NY Composite Index with 200-day Moving Average Line |
 |
| Russell 2000 Index with 200-Day Moving Average Line |
 |
| S&P 500 Index with 200-Day Moving Average Line |
 |
| Dow Jones Transportation Average with 200-Day Moving Average Line |
No comments:
Post a Comment