Stocks Are Coiling For A Violent Move
Phoenix Capital Research | Aug 22, 2019 01:56AM ET
Stocks remain range bound.
However in the big picture, things are looking NASTY. Stocks have failed to ignite a significant rally and will soon test the “line in the sand.”
The “line in the sand” for the stock market is the 200-WEEK moving average. If we cannot hold the 200-DAY moving average, we’re heading to this line.
Unfortunately that’s where Copper, Bond Yields, and Fed Ex (NYSE:FDX), all of them real-world economic indicators, indicate that stocks are heading.
This is telling us stocks are going DOWN, possibly quite a lot.
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