Dec 25 2018
hMnuchin checks on bank liquidity
Well someone is paying attention and no doubt the Tsy Secy is not interested in a repeat of another we need $700 B Paulson guesstimate
New Lows
One would have thought the final 500 point plunge intra day would have matched this indicator to the previous peak of new lows, but not quite.
The VIX is the same which suggests as I speculated yesterday that stocks may decline the rest of the week.
NYSE Summation Index matches 2016 extreme
RSI and MACD are at extremes and price has matched the previous low.
Apache still falling
WTIC
The energy complex has reached previous oversold extremes while the DJIA is still over 20,000. What it that telling us? I suspect it means the downturn in energy will be longer than in 2008 or 2016
XES
No bottom in sight
Such extremes would normally generate a bounce but it has not happened in stocks yet. The strength of the bounce when it comes will be helpful in perhaps determining what happens next.
Gold
Gold has had a good run from August and I can count a rough five waves up. It is probably peaking for now as stocks still fall towards a bottom, somewhere.
BRKB
Even the Buffet faithful are nervous. Again this is reaching a MACD extreme and a previous 185 level where it found buyers. This may be a good indicator to watch.
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