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Thursday, September 22, 2022 4:35:59 PM
#CANNABIS_NATION: $SQQQ: Global Hawknado Hammers Stocks....
$53.50
https://www.zerohedge.com/markets/global-hawknado-hammers-stocks-bonds-dollar
Finally, we note that the S&P 500 has traded below its 200-day moving average for over 100 sessions - a streak that was previously breached only during the tech bubble and the global financial crisis in the past 30 years.
In both of those instances, the gauge posted most of its losses after surpassing that level, with the index declining by a further 50% in 2000-2003 and 40% in 2008-2009 before troughing, they said.
“The bad news is we are still in one of the weakest seasonal windows of the year, especially in a mid-term year,” said Jonathan Krinsky, chief market technician at BTIG.
“The good news is that it quickly reverses by mid-October. We think we test or break the June lows before then, which should set up a better entry point for a year-end rally.”
$53.50 https://www.zerohedge.com/markets/global-hawknado-hammers-stocks-bonds-dollar
Finally, we note that the S&P 500 has traded below its 200-day moving average for over 100 sessions - a streak that was previously breached only during the tech bubble and the global financial crisis in the past 30 years.
In both of those instances, the gauge posted most of its losses after surpassing that level, with the index declining by a further 50% in 2000-2003 and 40% in 2008-2009 before troughing, they said.
“The bad news is we are still in one of the weakest seasonal windows of the year, especially in a mid-term year,” said Jonathan Krinsky, chief market technician at BTIG.
“The good news is that it quickly reverses by mid-October. We think we test or break the June lows before then, which should set up a better entry point for a year-end rally.”
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