The DIA trendline is broken. Today’s rally did a gorgeous job pushing us right back to the price gap.
During yesterday’s momentous 2000+ point breakdown, I forgot to mention yet another fact that cements this new Bear Market into reality. The DIA trendline is broken. I’m not talking about some intermediate-term line. I’m talking about the biggest of the big. Today’s rally did a gorgeous job pushing us right back to the price gap.
(Click on image to enlarge)
As for Tuesday, my broad shift the day prior to “lighten up shorts, go short bonds, go short precious metals” was the right move.
This is not meant to be a recommendation to buy or to sell securities nor an offer to buy or sell securities. Before selling or buying any stock or other investment you should consult with a qualified broker or other financial professional. The author has no business relationship with any company whose stock is mentioned in this article nor is receiving compensation from any of the companies mentioned.
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