The market is already slipping a bit and fading downward
off the overnight highs. So many indicators showing the market being very overbought here and the
"Trade news" noise that has been used as stimulus over and over again seems to be losing its power and effectiveness.
I keep watching and wondering what the Christmas sales stats will be...
AMZN may be already hinting that the consumer is not going to spend wildly.
Something tells me consumer confidence, spending, and sentiment is not going to have a favorable impact on the stock prices and it may actually be the catalyst that causes a 5+% drop here.
No matter what Powell says or does, I think he and many others already know it's getting more and more difficult to keep us grinding upward.
When it comes to the streaming wars, I keep thinking NFLX is one that will get punished.
It's too expensive for a takeover and it's already being hurt by the production costs of its originals. With its high pe and valuation, along with the overhead resistance, I think it's ready to roll over hard here, back to 260 and lower.
