Many stocks ripe to push higher yet had the rug pulled underneath them today, as the 30-minute SPY chart indicates with the ferocious and abrupt sell-off, first below. A marquee name like Tesla is back below the important $145 level rendering it neutral at best right now.
We have been here before, of course, with dip-buyers arriving just when it looked like they finally we on hiatus. The XLF ETF daily chart perfectly examples this specific setup, which I will discuss in-depth with all of the intricacies after the closing bell on my video market recap.
See you there.
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For a second there, I thought that was Snoop Lion dunking?!
Hey.. no QE, no more rallies. This economy was built on lies and b.s. headlines. The market likes cocaine and this tappering, it’s fine and dandy but not for long. Ben may reitre but the game is already in motion.
Love the charts. You really do have a keen eye for this stuff. I like your conservation yet honest approach to looking at the key market sectors.
Any thoughts Ford? It’s really kicking some booty lately.
Discussed $F on the recap today