econintersect.com
       
  

FREE NEWSLETTER: Econintersect sends a nightly newsletter highlighting news events of the day, and providing a summary of new articles posted on the website. Econintersect will not sell or pass your email address to others per our privacy policy. You can cancel this subscription at any time by selecting the unsubscribing link in the footer of each email.



posted on 21 August 2017

The Endgame?

Written by , Rick's Picks

There’s no denying these are quite interesting times, in a Chinese curse sort of way. Only an asteroid on a collision course with Earth, or an ISIS nuclear detonation, could make the world seem any more interesting than it already is. Under the circumstances, it’s tempting to predict that, any day now, the stock market will recalibrate itself to the grim realities of a civilization in eclipse, and, more urgently, to a Trump presidency dangerously adrift.


Please share this article - Go to very top of page, right hand side, for social media buttons.


With the foregoing in mind, I present today a chart that shows DIA, an ETF vehicle that tracks the Dow Industrials, rolling down from on high. There is a lot of white space below it, more than ever before, and that is what makes the chart seem so scary. Even so, you can see that all such disturbances in the past were ultimately resolved in favor of bulls, usually quickly. Perhaps that will prove to be the case this time as well.

Click for large image.

I am watching AAPL in particular to keep me from hitting the panic button prematurely. The stock looks bound for a $168 target that lies $11 above current levels. Assuming it is achieved within he next 3-5 weeks - a prospect that I would rate a 60-40 bet at the moment - higher prices lie in store for the broad averages as well.

Regardless, if the sharp selloff begun last Wednesday starts to snowball in the days ahead, sending DIA below July 24’s 214.68 low, we should brace for a possible avalanche. We’ll be watching the lesser charts in the meantime, so that it does not catch us unawares. We will also look to buy puts on strength, meaning not now, not yet.


If you are not a suscriber, click here for a free two-week trial that will allow you to enter the Rick’s Picks chat room, where great traders from around the world gather 24/7.


>>>>> Scroll down to view and make comments <<<<<<

Click here for Historical Investing Post Listing










Make a Comment

Econintersect wants your comments, data and opinion on the articles posted. You can also comment using Facebook directly using he comment block below.




Econintersect Investing








search_box
Print this page or create a PDF file of this page
Print Friendly and PDF


The growing use of ad blocking software is creating a shortfall in covering our fixed expenses. Please consider a donation to Econintersect to allow continuing output of quality and balanced financial and economic news and analysis.







Keep up with economic news using our dynamic economic newspapers with the largest international coverage on the internet
Asia / Pacific
Europe
Middle East / Africa
Americas
USA Government





























 navigate econintersect.com

Blogs

Analysis Blog
News Blog
Investing Blog
Opinion Blog
Precious Metals Blog
Markets Blog
Video of the Day
Weather

Newspapers

Asia / Pacific
Europe
Middle East / Africa
Americas
USA Government
     

RSS Feeds / Social Media

Combined Econintersect Feed
Google+
Facebook
Twitter
Digg

Free Newsletter

Marketplace - Books & More

Economic Forecast

Content Contribution

Contact

About

  Top Economics Site

Investing.com Contributor TalkMarkets Contributor Finance Blogs Free PageRank Checker Active Search Results Google+

This Web Page by Steven Hansen ---- Copyright 2010 - 2017 Econintersect LLC - all rights reserved