Technical Analysis Thursday: When In Doubt, Stay Out

Here's What the Market is Telling Us Today May 7, 2020 UNSUBSCRIBE | ARCHIVES Bull or bear… why don't they care? A growing number of average Americans are making money hand over fist… Using a very simple strategy. And at times banking as much as $10,200 in a single day… For them, it doesn't matter which way the market is headed. Here's how they do it. Technical Analysis Thursday: When In Doubt, Stay Out Dear Money & Crisis Reader, Let's take a look at what the markets are telling us today. Stocks are rallying hard today, but are struggling to break above resistance (red line in the chart below). This suggests that the rally is tired and due for consolidation. We have had two similar phases since the markets bottomed on March 23. They happened from March 31 to April 6, and April 20 to April 27 (red boxes in the chart below). The big question for investors is if this is a buying opportunity or the start of a major drop. Former Air Force Pilot Reveals Recession-Tested Trading Strategy Grounded in 1984 because of a case of vertigo, Air Force veteran Chuck Hughes needed to find a way to make ends meet… So he took on the exciting world of financial trading and has since dominated the market, winning 10 championships. Now Chuck is opening up his proven, two-step system to everyone. Get more details here. A Message from Credit: "Be Patient" Credit typically leads stocks, and credit is coiling for a big move. You'll note in the chart below that credit began to struggle in early April. Stocks rallied through that month despite this weakness. In terms of what's to come, credit is about to break out of a triangle formation (blue lines). Breakouts from triangle formations typically resolve in EXPLOSIVE moves. Right now, credit has major support just below current levels (red line in the chart below), which suggests the move should be upwards. But given that we're approaching the weekend and traders are extremely long and looking to unload those longs, this setup isn't clean enough to warrant putting more capital to work. One of the most important adages for professional traders is "when in doubt, stay out." With that in mind, given the muddiness in the markets, I'd suggest waiting for a breakout before committing more capital to stocks. Best Regards, Graham Summers Editor, Money & Crisis "An Open Letter to the White House…" Hi, I'm George Gilder. I've written speeches for Nixon. I've met privately with Ronald Reagan. Now I intend to meet with President Donald Trump. And I'm pretty sure he'll see me. You can find out why at this link — it shows you my letter plus much more. P.S. It's got nothing to do with politics. It's not about taxes or trade wars. It's about a discovery that could silence Trump's haters… preserve his legacy… and help millions of Americans to get very, very rich. For details, follow this link… To end your Money & Crisis e-mail subscription and associated external offers sent from Money & Crisis, click here to unsubscribe. If you are having trouble receiving your Money & Crisis subscription, you can ensure its arrival in your mailbox by whitelisting Money & Crisis. Money & Crisis is committed to protecting and respecting your privacy. Please read our Privacy Statement. Phoenix Press, a division of Laissez Faire Books, LLC. 808 Saint Paul Street, Baltimore MD 21202. Nothing in this e-mail should be considered personalized financial advice. Although our employees may answer your general customer service questions, they are not licensed under securities laws to address your particular investment situation. No communication by our employees to you should be deemed as personalized financial advice. We expressly forbid our writers from having a financial interest in any security recommended to our readers. All of our employees and agents must wait 24 hours after online publication or 72 hours after the mailing of a printed-only publication prior to following an initial recommendation. Any investments recommended in this letter should be made only after consulting with your investment advisor and only after reviewing the prospectus or financial statements of the company. © 2020 Phoenix Press, a division of Laissez Faire Books, LLC. All Rights Reserved. Protected by copyright laws of the United States and international treaties. This newsletter may only be used pursuant to the subscription agreement and any reproduction, copying, or redistribution (electronic or otherwise, including on the world wide web), in whole or in part, is strictly prohibited without the express written permission of Phoenix Press, a division of Laissez Faire Books, LLC. EMAIL REFERENCE ID: 401MNCED01