September 03, 2019
The markets are
now in serious trouble.
Last week's collapse was just a taste of what I think is coming.
Stocks have been rejected by the top line of the trading range I’ve been tracking.
The momentum is now DOWN. We are likely to find stocks down in the 2700s shortly. That is CRITICAL support (red line in the chart below). And that is where we’ll get a decent bounce.
However, the big picture is looking worse and worse for the stock market. Given what’s happening globally, I think there is a solid chance that stocks will find their way down to the lower blue line in the expanding pattern I’ve been tracking since mid-2018.
Chief Market Strategist DHF.
George Town. Cayman Islands.