There are four dimensions to analyze any market; Price, Time, Sentiment , and Momentum.
Currently for the US stock market the most important dimension is Momentum. Note the multiple daily RSI bearish divergences on the IXIC.
To have a clear picture of bearish momentum look at the new 52 week highs for the NYSE and Nasdaq Composite.
Stockcharts.com has charts $NYHGH and $NAHGH that show outrageous bearish divergences.
Most stocks are already in a bear market.
Today 7/20/17 is the two year anniversary of the Nasdaq Composite 2015 high just prior to the mini crash.
The US stock market is in the same condition as July 2015.
A mini crash to the November 2016 bottom by late August 2017 is a high probability.
Short Stocks!!
PS - My post earlier today noted a possible Ending Diagonal Triangle on the intraday SPX.
Subsequently the SPX went below what was listed as wave "4" of the EDT.
Its possible the EDT was completed with a Truncated wave "5"
If so this is a double bearish signal and implies a sharp decline on 7/21/17.
Mark
Currently for the US stock market the most important dimension is Momentum. Note the multiple daily RSI bearish divergences on the IXIC.
To have a clear picture of bearish momentum look at the new 52 week highs for the NYSE and Nasdaq Composite.
Stockcharts.com has charts $NYHGH and $NAHGH that show outrageous bearish divergences.
Most stocks are already in a bear market.
Today 7/20/17 is the two year anniversary of the Nasdaq Composite 2015 high just prior to the mini crash.
The US stock market is in the same condition as July 2015.
A mini crash to the November 2016 bottom by late August 2017 is a high probability.
Short Stocks!!
PS - My post earlier today noted a possible Ending Diagonal Triangle on the intraday SPX.
Subsequently the SPX went below what was listed as wave "4" of the EDT.
Its possible the EDT was completed with a Truncated wave "5"
If so this is a double bearish signal and implies a sharp decline on 7/21/17.
Mark