The Dow Industrials has carved out a clear head and shoulders top which measures down to 10,300, still about 900 points from here.
5 thoughts on “If you’re bearish…”
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The Dow Industrials has carved out a clear head and shoulders top which measures down to 10,300, still about 900 points from here.
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IMHO Korea/Kospi/EWY (which is getting hammered intraday right now) should be viewed as the canary of the global economy as its big-cap multinationals are levered to exports to US/EU/CHN/emerging mkts whether it’s electronics, whitebox apps or container ships.
If you’re bullish, play for a bounce off the bottom of a well-defined channel.
If you’re bearish, short the breakdown down to 2006 levels.
Cheers.
Looks like you nailed that one. 🙂
For now…
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