Horizons Marijuana Life Sci Index ETF (HMMJ)

[JohnCM]

What we have to do is separate the cannabis sector from the DOW and then join up again.

The DOW and NASDAQ had ramped up unbelievably as of late. Most people were very happy to sit back and enjoy the fireworks. I started talking about SDOW, the reverse ETF.

The DOW HAD TO correct. I have not taken a look at the RSI(14) number, but I would not be surprised if it was well over 70, over-bought range, at that time recently.

Ironically the cannabis market corrected just before the DOW. The corrections in the DOW were needed and healthy. The correction in the cannabis market, I am not so sure. Save for Canopy, the bellwether that rose to over $40.00, clearly overprice, at that time, There were a ton of bought deals in the new price range that cannabis stocks had achieved.

What you want to look for is for this correction to take full effect, as soon as possible. The worst correction is one that takes place over the course of 3 years or more, drip by drip.

With two $1,000 DOW drop days recently, we, in the cannabis market, are praying that the NASDAQ and DOW correction is over. $23,500 DOW.

Because unfortunately, the cannabis stock market is the tail being wagged by the DOW, and there are a bunch of cannabis stocks that are "super cheap" right now.