Stocks Have Partied Hard Since Election Night… Now Comes the Hangover
Stock-Markets / Stock Market 2017 Mar 25, 2017 - 05:20 PM GMTThe market is now on very thin ice.
Yesterday worked off some of the “oversold” status for stocks, but we are in extremely dangerous territory today.
The S&P 500 has taken out critical support (red line) as well as the bull market trending running back to early November (blue line).
More concerning for the bulls: bank stocks, which lead to the upside, are now leading to the downside. It looks as though the ENTIRE move in the markets since election night is going to unwind.
This is a major wake up call, I hope you’re paying attention. The markets have rallied on hype and hope of the economy roaring back to life… but that’s not coming for another 12 months (at the earliest.
Stocks partied hard starting election night. Now comes the hangover.
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Graham Summers
Phoenix Capital Research
http://www.phoenixcapitalmarketing.com
Graham also writes Private Wealth Advisory, a monthly investment advisory focusing on the most lucrative investment opportunities the financial markets have to offer. Graham understands the big picture from both a macro-economic and capital in/outflow perspective. He translates his understanding into finding trends and undervalued investment opportunities months before the markets catch on: the Private Wealth Advisory portfolio has outperformed the S&P 500 three of the last five years, including a 7% return in 2008 vs. a 37% loss for the S&P 500.
Previously, Graham worked as a Senior Financial Analyst covering global markets for several investment firms in the Mid-Atlantic region. He’s lived and performed research in Europe, Asia, the Middle East, and the United States.
© 2017 Copyright Graham Summers - All Rights Reserved Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.
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