Just a quick update, forecast and outlook with stock market charts to show the timing and analysis. So far, we have failed at the 50 period daily moving average which is the trade setup I have been following. Today, per the twitter comments, we took out the daily low setting up the bearish failure trade. I will return end of July with regular postings. Until then, I am on Twitter on occasion when I get some time.
I have outlined an uber bearish stock market scenario and thought I would throw it up here in a post. The analysis is consistent with the scenario I have been following in the recent Stock Market Updates, Forecasts and Outlooks. Recent Update and Outlook for June and July.
Here is the Uber Bearish Scenario Chart:
Here is an update of the ongoing scenario:
As has been discussed, the forecast and outlook analysis in the stock market charts above are not predictions as nobody knows the future. I don't believe in predictions. I believe in assessing the current chart presently and finding the trend and lines and waiting for breakout or breakdown. Only the sands of time know.
This bearish scenario lives below the 50 daily moving average trend as has been discussed. Above the 50 DMA is where the short term bullish scenarios live (see the links to the prior posts and Twitter comments).