The Selloff Is in Full Force
Good afternoon folks, and welcome to the Rude Awakening!
As the markets close for the week, it’s a great time to do a review of everything we’ve seen throughout an especially crazy trading week.
It turned out to be yet another crazy day in the marketplace.
For the first half of the trading day, we saw a major selloff, but by the early afternoon, the market started to regain some ground.
However, by day’s end, we finished off with more signs of weakness.
That leads us to lots of crucial questions with this market…
The Questions Haunting the Marketplace
How Is the Market Closing Out Trading Sessions? Are we closing strong? Or are we closing weak?
Well, we’re back again to that weakness.
This is when we want to go back to one of our trading analysis tools: the 50day MA.
Today was a BIG day for the marketplace.
We finished the day by breaking down below that 50day MA line.
So, we have to ask, are we going to be able to hold the current 50day MA?
Are the rallies we’ve been seeing just flukes?
Are we really much weaker than the bullish swings would have us believe?
Was this week’s overall selloff a nice consolidation for the overall market to get back to normal valuations? And, is this new consolidation a launching pad to take us higher, or is it a respite before a bigger selloff?
LOTS of things to consider with all the ups and downs of this week’s market.
The Selloff Is in Full Force (Anything Can Happen)
It is a fact that anything can happen in a market as volatile as this.
The selloff is in full force.
All indicators are showing sell signals.
Watch today’s video for all the details, but just know…
It’s looking like next week will be focused on much more bearish trading.
Editor, Rude Awakening