TSLA has taken out its 50-day moving average and stayed there. This opens the door to the 200-DMA, which is down near $500 per share. This opens the door for a similar move for the stock market as a whole. The NASDAQ doesn’t have much support until you get to just under 12,000. For the S&P 500 it’s just over 3,500. Whether we grind our way lower to that point or enter a free-fall, remains to be seen. But the odds GREATLY favor the next 10% move for stocks being DOWN instead of up. This doesn’t mean that this has to be a period of great pain for you. Those who are properly prepared will make literal fortunes. Best Regards, Graham Summers Editor, Money & Crisis |
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