Michael Burry Bets $1.6B On Market Crash - Dow Jones Down 500+
Michael Burry has placed a substantial $1.6 billion bet on an imminent stock market crash, representing 90% of his firm's assets.
Known for his accurate prediction of the 2008 US housing market crash which netted him $100 million, Burry's recent move follows a 500-point drop in the Dow Jones in just two days.
Despite this downturn, the Dow Jones has shown a positive trend in 2023, rising over 1,500 points. It's vital for investors to discern between short-lived market shifts and long-term trends.
An in-depth analysis of the Dow Jones reveals a robust support level from December 2022 at $34,712, further reinforced by the daily 50 SMA just beneath.
This strong support could be pivotal in pushing the index upwards, potentially eclipsing its January 2022 record high of $36,952.
Known for his accurate prediction of the 2008 US housing market crash which netted him $100 million, Burry's recent move follows a 500-point drop in the Dow Jones in just two days.
Despite this downturn, the Dow Jones has shown a positive trend in 2023, rising over 1,500 points. It's vital for investors to discern between short-lived market shifts and long-term trends.
An in-depth analysis of the Dow Jones reveals a robust support level from December 2022 at $34,712, further reinforced by the daily 50 SMA just beneath.
This strong support could be pivotal in pushing the index upwards, potentially eclipsing its January 2022 record high of $36,952.
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