Friday, April 29, 2016

A Key Reversal of Fortune aka. Third Wave Down

The last legs of the stool are breaking...



JPY:



Yesterday I said that Exxon was at a critical junture, today it's having a blow-off based upon its earnings release this morning. Whereas the other largest oil stock Chevron failed to meet expectations. All of which means that only one oil stock is now holding up the entire Energy sector...

What could go wrong?
Another leg of the stool goes bye bye...




Oil is jumping the shark...aka. overthrow mode...



And of course Amazon is in its own blow-off mode...on lower than expected 450 P/E ratio...

Amazon just traded half a day's volume in :10 minutes, more selling by Wall Street @ Strong Buy...


Apple is heading into Third Wave no man's land...