If The Fed’s Doing It, Shouldn’t We?
You don’t want to be left holding the bag.
David at The Money GPS has an excellent update, linked here.
Looks like they really do ring a bell at the top.
However, does this news story (The Fed selling everything) corroborate with price action?
In the case of the Russell 2000 (IWM) above, the answer appears to be yes.
Price action got itself into and up-thrust condition, rolled over, then tested and is now continuing lower.
A short position was opened in IWM (via TZA) during this session with a stop at the TZA day’s low (not advice, not a recommendation).
Yesterday’s short on IYR (via DRV) continues to post green and is confirming the overall markets may be peaking and reversing simultaneously.
Charts by StockCharts
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