Posted by DigiNomad on 20th of Jul 2022 at 09:13 pm
Thanks - appreciate the follow up! (I chose TradingView
over Stockcharts...would love to hear why that was a bad or good
move).I know history doesn't necessarily repeat, but it often
rhymes. It looks like maybe we're entering a period similar to
March through June 2008. I'm a huge bear in the medium term
and think the messaging in the media about how we're near a bottom
is nonsense given these economic circumstance haven't occurred in
40+ years, if ever (e..g. forward returns after pullbacks of this
magnitude are followed by major gains 90% of the time, blah blah
blah). The Fed is not coming to the rescue...that's all we need to
know. BUT....market mechanics are such that the bull side
needs to gain more followers before the market can move lower.
Paradoxically, markets typically bottom when sellers exhaust
themselves and only buyers are left. Sellers are currently somewhat
exhausted and need to recharge, IMO.
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Thanks - appreciate the follow
Nasdaq Highs-Lows
Posted by DigiNomad on 20th of Jul 2022 at 09:13 pm
Thanks - appreciate the follow up! (I chose TradingView over Stockcharts...would love to hear why that was a bad or good move).I know history doesn't necessarily repeat, but it often rhymes. It looks like maybe we're entering a period similar to March through June 2008. I'm a huge bear in the medium term and think the messaging in the media about how we're near a bottom is nonsense given these economic circumstance haven't occurred in 40+ years, if ever (e..g. forward returns after pullbacks of this magnitude are followed by major gains 90% of the time, blah blah blah). The Fed is not coming to the rescue...that's all we need to know. BUT....market mechanics are such that the bull side needs to gain more followers before the market can move lower. Paradoxically, markets typically bottom when sellers exhaust themselves and only buyers are left. Sellers are currently somewhat exhausted and need to recharge, IMO.