Wednesday, March 28, 2018

April Fools

I think we all see where I'm going with this...

When the casino opens on the highs and closes on the lows every day, that's what is known as a "bear market", and a sign that institutions are selling. But don't take my word for it...






For those gamblers waiting for the big "retest" vis-a-vis the February low, they will be surprised to learn it has already taken place and failed...

For example, the second largest S&P sector. Notice this doesn't say the worst month since February 2018:






Also already below the February low on a closing basis:

Materials, Autos, Retail, Homebuilders, Healthcare, Construction, Oil Services, Consumer Staples

Which leaves...

Crude oil:

As we see, the world's largest energy stock is well below the February low...




China Tech:




Growth/Momentum:




And...large cap Tech

As we see in the lower pane, most Tech stocks are already below where they were in February:




And the most glaring negative divergence of all, of course: