Weekend Sept 17, 2023
The stock market made final highs dating back to the lows of 1932 between November 2022 and January 2023. The first leg down ended in October. The second wave up ended this September. This means a larger third wave down is beginning. We have noted mania type behavior as follows
zero day to expirartion ODTE options are now nearly half of all option volume
a Vietnamese EV company was briefly worth more than GM or MacDonalds
home and art sales have reached new highs
Hedge is the opposite of the INDU chart
HDGE topped in Oct 2022 and bottomed just now, it should head up in its own third wave now.
While the NASD is near it high the internals show serious weakness,only 25% over their 50 day MA, again a few for the seven big techs hold up the average.
Crude oil may have topped Thursday and reversed Friday.
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