Berkshire Short
Berkshire Hathaway has long been a leader for the S&P, but it currently looks like the conglomerate is heading into a rough period of time.
The Daily 200 SMA in pink has rolled over bearish, and the key Weekly support level for the past 2-3 years has been breached to the downside.
Being one of the top 10 holdings in the S&P index, if this downtrend continues this could be a stock that acts as a downside-weight for the indexes and market as a whole.
(Plus many big financial names look like shit right now, which should act as a similar downside-weight to more financially-weighted indexes like the Dow)
Long-term Market outlook: BEARISH
(not financial advice, just an opinion)
The Daily 200 SMA in pink has rolled over bearish, and the key Weekly support level for the past 2-3 years has been breached to the downside.
Being one of the top 10 holdings in the S&P index, if this downtrend continues this could be a stock that acts as a downside-weight for the indexes and market as a whole.
(Plus many big financial names look like shit right now, which should act as a similar downside-weight to more financially-weighted indexes like the Dow)
Long-term Market outlook: BEARISH
(not financial advice, just an opinion)
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