Like I said, we stuck in the range bounded by black lines. May touch the upper line first then down to test the lower line. We'll see.
Attachments
Like to read more of my commentaries? Please subscribe my Daily Market Report. Subscribers can find all the members only posts HERE. StockCharts members, please vote for me HERE, thanks.
zh: the Fed and the other central banks have led the robo-machines, day-traders, and Robinhood waifs into the most hideous stock-chasing mania in recorded history.
Here are just a few of the market extremities:
Amazon is now 43% of the S&P 500 consumer discretionary index;
Nearly two-thirds of the market is underperforming so far this year;
Year-to-date, only one in three stocks is actually in the green;
One in five stocks is down 50% or more from its all-time high;
The five largest stocks in the S&P 500 have a combined market cap that equals that of the “smallest” 389 stocks;
Apple, Amazon, Microsoft, and Google—four companies—have a combined market cap (over $6 trillion) that is greater than the GDP of every country in the world, minus the US and China;
Tesla, having surpassed Walmart (with one-twentieth of the revenue!), has become the ninth-largest stock in the US.
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
Like to read more of my commentaries? Please subscribe my Daily Market Report. Subscribers can find all the members only posts HERE. StockCharts members, please vote for me HERE, thanks.
Like to read more of my commentaries? Please subscribe my Daily Market Report. Subscribers can find all the members only posts HERE. StockCharts members, please vote for me HERE, thanks.
Like to read more of my commentaries? Please subscribe my Daily Market Report. Subscribers can find all the members only posts HERE. StockCharts members, please vote for me HERE, thanks.