The Market Perspective: The Low is Not in Yet

The Great Depression

Benjamin Roth: The Great Depression: A Diary
It's all here, times change people don't -the endless govt programs that fail to stimulate the private sector -the ups and downs of the economy, the veterans pension stimulates just as the housing credit did, until of course the money runs out -Roth is a attorney in Youngstown Ohio who kept a diary regarding the economy from 1930 until WW II breaks out, he is objective, candid, and forthright which is more than we get from Washington DC now or then highly recommended

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« Eight Waves Complete | Main | A High in New Lows »

June 15, 2022

The Low is Not in Yet

Wed June 15, 2022

The XLI ETF is a great proxy for the Dow Industrials. ONe can see the double top of Nov and January and now the gaps from maximum mood nearing the end of the sell off.

PMO is folling over atain and it may well take until sometime next week to start bottom fishing for a ocunter trend rally.

Check out page B 11 in today's WSJ, it is the list of new lows, wow. Again we are getting to a bottom.

I am going through my list of major ETFs and they all show gaps the last four days. FANG has been cut from 8,00 to 4,750 since November.

NYSE new Lows are getting to the extreme that has marked previous bottoms

Here is a comparison of new lows going back to the covid sell off March 2020

Looks like the covid extreme was around 2,000. and we are at 850 now

Posted at 07:52 AM in Socionomics, Stock Market | Permalink

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The Market Perspective

Market Commentary by Dennis Elam dennislelam@gmail.com

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