Spot On Signal In Advance Of Ugly Sell Off
Yesterday stocks traced an ugly reversal pattern with heavy selling. The last time such a pattern was seen was in August of 2017. Normally such a pattern is negative for the stock market in traditional technical analysis. In extended markets, such a pattern is often also the top.
Yesterday’s Morning Capsule gave you a spot on signal ahead of the sell off. In the Morning Capsule we wrote:
The momo crowd is aggressively buying stocks in the early trade pushing Dow futures to over 26000.