Stock Market Analysts are Now Bearish...
Stock-Markets / Stock Markets 2016 Jan 14, 2016 - 03:50 PM GMT
The Head & Shoulders neckline has now been crossed. As soon as it is retested from beneath, we may see a much larger decline in speed and distance. There is a lot of open space between the neckline and the next support.
The analyst community have thrown in the towel, as ZeroHedge reports, “Something has definitely changed in the market: while for the past seven years (a period largely coincident with an easy, ZIRPing or QEing Fed) every day would be greeted with numerous research pieces, all urging traders to buy the dip, and to otherwise stay invested in stocks, now all the equity firms have turned their back on the S&P, and first Goldman, then JPM, then UBS, then every other equity trader has urged clients not only not to BTFD any more, but to STFR.
So having been so rudely abandoned by equity analysts, perhaps dejected stock investors could find some solace in the Treasury analyst community?”
VIX has finally emerged above its neckline and, after a retest, also sees blue sky above.
NDX also crossed its Head & Shoulders neckline and on its way down to plumb the depths. It is now down 12.5% from its December peak.
ZeroHedge reports, “But they said "never sell" - FANTAsy stocks are in trouble with FANGs down 11.5% year-to-date and Tesla plunging over 17% since the holidays... the last pillar of US equity market strength has officially broken...
FANGs FUBAR...”
Regards,
Tony
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