The walk to the Gallows Pole begins. The United States stock market is standing on the utility trap-door. If UTIL falls through the 50-wk MA at 958, it is sayonara time for stocks, the trap door will open, and the SPX would be expected to drop into an air pocket loss of 20 to 40 points within an hour after the trap door opens. The stock market would only deteriorate from there as long as UTIL remains below the 958.
If the stock market sells off, but UTIL does not fall below 958, the stock market drop is a pig in a poke and equities will recover. The 958 level is Armageddon. If UTIL falls through 958 and stays below but you do not see any appreciable drop or negativity in the stock market, consider it a gift and your last few seconds to git outta Dodge. It will be fun to watch. The men at work at the utilities will determine the fate ahead for stocks. Down Under. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.
Note Added Tuesday, 1/14/25: The trap-door flew open yesterday to begin the week and stocks flushed to the downside but the bulls worked frantically and managed to relatch the trap-door and move UTIL back above the 960 line in the sand. Now you know what to watch going forward. If UTIL fails 960 again, there will be blood on Wall Street. Stocks will not be in much jeopardy if UTIL remains above 960. UTIL is at 979 only 19 points above Armageddon. Is the stock market Livin' On A Prayer. What does Orianthi and Richie say?
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.