Wed Oct 27, 2021
The markets had a tepid opening this morning. But the markets rose in early trading only to start losing ground later in the day. But day's end all indexes were lower.
the 30 minute DJIA chart shows a clear five waves down. This is occurring across all the major indexes more or less, slightly different time frames. If this is correct the bear market in stocks has begun.
Today Tesla has become a trillion dollar stock joining MSFT, Apple, Google, FB, but with miniscule earnings. And Tesla's market cap is larger than the next nine auto companies combined. Action like this is the hallmark of positive mood seen at market tops. Coming at the apex of the Dem attempt to socialize America, also significant.. Junk bonds yield less than the year over year change in CPI. Dem strategy will be tested next week in New Jersey and Virginia Governor races. Stay tuned, I suspect the bear has begun.
Hedge is the perfect mirror image
Five waves up are complete. Given the Dems inability to pass their own bill, this is a perfect socio set up for a top in the markets.
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