I feel like I've been ambushed after Wednesday's rout. It seems to be politically motivated (manipulated).
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We now have some significant technical damage on the S&P 500 after just 1 day as price plunged on volume to close well under its 50 dma. But we've seen this before. Mid-March saw a similar drop, though not on a gap.
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Similar story for DWCPF.
My intermediate term system is still positive, but it took a hit. Breadth flipped negative today and liquidity dove, but is still in expansion. There are no shortage of gloom and doomers out there, but I'm not ready to join them. I am willing to move from my bullish stance to a neutral sentiment though. But I'm still 100% S fund. The next day or two may be more telling. NAAIM reports tomorrow. Let's see how sentiment stacks up after this market slam.
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