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Stocks Are Coiling For A Violent Move

Published 08/22/2019, 01:56 AM
Updated 07/09/2023, 06:31 AM

Stocks remain range bound.

SPX Daily Chart

However in the big picture, things are looking NASTY. Stocks have failed to ignite a significant rally and will soon test the “line in the sand.”

SPX Weekly Chart

The “line in the sand” for the stock market is the 200-WEEK moving average. If we cannot hold the 200-DAY moving average, we’re heading to this line.

SPX Weekly Chart

Unfortunately that’s where Copper, Bond Yields, and Fed Ex (NYSE:FDX), all of them real-world economic indicators, indicate that stocks are heading.

This is telling us stocks are going DOWN, possibly quite a lot.

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