AI
Thursday, April 02, 2020 5:28:15 PM
CNBC once again claiming the bottom has already been put in.
C'mon man!!!
No chartist I am watching is calling a bottom, some suggest a bounce still to 2700-2800, but there are few of those out there.
This interviewer typically has more realistic people on his show on CNBC.
How can you enter into a bull market with the entire world in lockdown?
What are some people smokin???
This guy just confirmed that GDP has been down for 3 months now and we shut the economy down, just don't get where anyone can call this a bottom or even say that it is a cookie cutter pullback or even a normal recession.
Every one keeps saying that it's a health crisis and not a financial crisis, then why is it that the financial sector is actually worse off than the market? It still hasn't even recovered from the 2018 lows yet.
So what about volume....
SPY weekly chart.
No other "recession/correction" since we broke out to all time new highs in 2013 has had this volume. And I am thinking that there are still many waiting to get out still.
This initial volume spike looks a lot like the volume spike in the middlw of 2007.
C'mon man!!!
No chartist I am watching is calling a bottom, some suggest a bounce still to 2700-2800, but there are few of those out there.
This interviewer typically has more realistic people on his show on CNBC.
How can you enter into a bull market with the entire world in lockdown?
What are some people smokin???
This guy just confirmed that GDP has been down for 3 months now and we shut the economy down, just don't get where anyone can call this a bottom or even say that it is a cookie cutter pullback or even a normal recession.
Every one keeps saying that it's a health crisis and not a financial crisis, then why is it that the financial sector is actually worse off than the market? It still hasn't even recovered from the 2018 lows yet.
So what about volume....
SPY weekly chart.
No other "recession/correction" since we broke out to all time new highs in 2013 has had this volume. And I am thinking that there are still many waiting to get out still.
This initial volume spike looks a lot like the volume spike in the middlw of 2007.
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