Latest from Colin Twiggs.The next six weeks could be brutal
First, please read the Disclaimer.
Daily new cases of COVID-19remain high, warning of further shutdowns as medical facilities are overrun.
Air travel spiked upwards as more than 6 million peopletraveled home for Thanksgiving.
Health authorities expect the next six weeks to bebrutal, with new highs in daily cases and rising pressure on hospitals.
The S&P 500 is totally disconnected, making newhighs, with breakout above 3600. Bearish divergence on Twiggs Money Flow(13-week) continues to warn of long-term selling pressure.
Stocks above the 200-Day MA are at 90%. Reversal below80% would warn of a sharp fall in prices.
Conclusion
We see US stocks as overpriced and maintain our bearishoutlook, limiting exposure to growth sectors.
Quote for the Week
"We have not even come close to the peak, and assuch, our hospitals are now being overrun."
~ Dr. Michael Osterholm, member of President-elect JoeBiden's Covid advisory team.
Updates for Market Analysis Subscribers
Please take advantage of our $1 special offer for the first month. Cancel at any time.
· S&P 500: Next six weeks could be brutal
· Commodities and global growth
· Dollar breaks support but so does Gold
· Gold: MMT and negative Treasury yields
· Gold: Keep your eyes on the prize
· Australian Growth: Performance at 31 October 2020
· International Growth: Performance at 31 October 2020
Disclaimer
Colin Twiggs is director of The Patient Investor Pty Ltd, an Authorised Representative(no. 1256439) of MoneySherpa Pty Limited which holds Australian FinancialServices Licence No. 451289.
Everything contained in this web site, relatednewsletters, training videos and training courses (collectively referred to asthe "Material") has been written for the purpose of teachinganalysis, trading and investment techniques. The Material neither purports tobe, nor is it intended to be, advice to trade or to invest in any financialinstrument, or class of financial instruments, or to use any particular methodsof trading or investing.
Advice in the Material is provided for the generalinformation of readers and viewers (collectively referred to as"Readers") and does not have regard to any particular person'sinvestment objectives, financial situation or needs. Accordingly, no Readershould act on the basis of any information in the Material without properlyconsidering its applicability to their financial circumstances. If not properlyqualified to do this for themselves, Readers should seek professional advice.
Investing and trading involves risk of loss. Past resultsare not necessarily indicative of future results.
The decision to invest or trade is for the Reader alone.We expressly disclaim all and any liability to any person, with respect ofanything, and of the consequences of anything, done or omitted to be done byany such person in reliance upon the whole or any part of the Material.
Please read the Financial Services Guide.
Incredible Charts Pty Ltd
PO Box 5182, GCMC, Bundall, QLD 4217, AustraliaYour PrivacyContact UsIncredible Charts
Toremove your email address from our mailing list, please click on unsubscribe .
