It is time to be very afraid. Kitty saw the utilities chart and ran away; now hiding under the bed and refusing to come out. Animals must sense danger. Price is tapping on the trap-door. If you are standing at the gallows with a noose around your neck, it is advisable to not tap the trap-door with your foot. Gallows Pole. Hangman! Hangman!
Bad things will happen to the US stock market if price fails at the 50-wk MA at 1057; it is a trap-door for equities. If she fails, expect the SPX to dump a big chunk within a short time after the failure and things will get worse from there. Bulls must keep UTIL, or DJU, above 1057 by all means necessary, otherwise, they will be walking the Green Mile to the Gallows Pole.
You have to squint but you can see the 50-wk MA line at 1057 inside the blue square, and the lower shadow of the candlestick, representing the low price for the week thus far, and today is the first day of the week so that is the same as Monday, is 1059, only a hair from failure that will wreak havoc on the US stock market. It is high drama with the SPX gains for this year on the line.
Everybody and his bro are calling for smooth sailing into the new year with more stock market gains ahead along with rainbows, blue skies, flowers and puppy dogs. There are no bears. It will be quite a site if UTIL, or DJU, 1057 fails.
The US stock market goes into a crash profile if UTIL 1057 is lost. This means that a major crash for US equities is on the table if the failure occurs. Watch the drama closely. If you choose to remain long stocks, and you see UTIL lose 1057, it will be time for you to bend over and assume the position. Kenny and The First Edition Just Stopped In to see what position my condition was in. 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.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.