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. 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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