Weekend Dec 4 2021
We are early in the bear market. Richard Russell always maintained the bear was much more cunning than the bull. So I am expecting a pretty good bounce so Fox News and CNBC can sound the all clear signal time to buy. That might take teh market to 35,400-35,600 gap Nov 26. Notice the4 reversal off the lows the last hour, pretty much an outside reversal of tehelast couple of hours.
If we have not hit a short term bottom we should be close. The NASD percent of sotcks over 50 day MA made a new low Friday.
Compare this with the weekly low registered on the covid crash March 2020
March 2020 took six weeks this time more like ten months.
NYSE A D
The A D line broke our blue support line whic is significant. Notice RSI made a lower low at top.
150 day MA
From 95 % to less than 50 %, quite a reversal and a huge divergence with the indexes all making new highs while the internals were crumbling.
JUNK Confident investors uh gamblers, buy the dip in JUNK
HDGE 4 hour chart
From oversold to over bought in one month. WE will be watching for an entry probably some time in January, this is a bear fund that we will expect to be using quite a bit in the future.
Crude Oil
Crude managed to close above the week's low but off the highs for Friday. Still like stocks this is probing for a short term bottom.
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