The market meltdown that this blog has been warning over the last 1 month has finally showed sign of capitulation. Short-term relief rally quickly fizzled out, coupled with many intraday reversal which is not common in the price action of the US markets over the last 7 years. The Russell 3000, S&P400 Mid-cap, NYSE & Dow Jones Transports have already broken below their August / September / October 2015 lows . The market topping patterns is evident and bear market structure looks firmly in place. Any rebound rally will not alter the bearish broader stock-market structure. If the market fails to have a sustained rebound with the current short-term extremes, it would imply that markets are in the midst of a early stage bear market Waterfall type of fall. This blog maintained selling into rally as the strategy to adopt now.
All posts and charts are for educational and illustration purposes only
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