Tuesday Sept 21, 2021
I used the Roadrunner and Coyote analogy to describe the market a few days ag. The broad market was selling off as shown by the bullish percent indicator.
I suggested the lack of breadth indicated a handful of stocks were holding the market up and when they dropped, the coyote would be off the cliff headed for a real fall. That is beginning to happen now, look
Here is a perfect example. The SPX is at top, still quite high and over extended. The bullish percent is falling thru 50% the last few days, a true bear market indicator. And PMO is headed down hard. The potential for much lower prices is far greater than the majority imagines.
After
the deaths of 13 service men and women
the hasty exit in Afghanistan without informing our allies
15,000 illegals under a bridge in Del Rio
rejection by CDC of his booster plan
France recalls US and Aussie ambassadors but leaves one in the UK, forget being rational this is France
Biden announces America is back at the UN, he is totally delusional
Triple bottoms rarely hold, and this one will fall in coming days.
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