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SPX BTD suckers showed up in early trade given yesterday's...

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DoctorBen

8,021 Posts.

913

04/04/24

02:07

Post #: 73177838
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Originally posted by Ewebute: ↑

Looking at the way it picked up late in the session, there are still 'true believers' thinking this is going to still push higher. The media narrative has started to rotate to the downside... I expect so will the markets.

Your analysis is usually spot on, so won't dispute your call here. I'll need to look at the M7 plus others once it's all over for this session to add any voice to the situation but I think only the 'true suckers' are going to be pushing these markets now - this is the group the instos require to sell to, but potentially dwindling. As such a final push might occur but I'm not too confident of this being strong.

Our measure of the number of bull voices might start to retreat going forward. They can't have strong economy and interest rate cuts being spewed outin the same breath.

One session of 1000 points down on the DJIA is likely to seal the direction for a period and be unexpected to most.

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SPX BTD suckers showed up in early trade given yesterday's action. I think if Mr Market wipes them by the end of session, then it would likely be the beginning of the downward journey; otherwise the next move remains uncertain. (Tesla is green )

Last edited by DoctorBen: 04/04/24

XJO Value at posting: 7,782.5
2 Upvote

0 Great analysis

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