Technical Analysis Update: The Bears Failed This Week

Even Bubbly Momentum Stocks Failed to Break Down July 17, 2020 UNSUBSCRIBE | ARCHIVES “I’ve laid out a $32 MILLION BOUNTY on the mainstream media.” The mainstream media is stealing your freedom AND your money — it’s time to fight back. I’ve spent $32 MILLION to expose how every day Americans, with no special training, can harness the power of the media for a chance to collect BIG checks like $8,950… $11,400… and even a rare $54,000 almost every Monday morning. Take back your freedom and your money. Click here now to join me today. Technical Analysis Update: The Bears Failed This Week Dear Money & Crisis Reader, The bears threw what they had at the market this week. And all they managed to accomplish was a chop-fest – nothing more. A chop-fest is when stocks chop around without actually going anywhere. I simply can’t think of a better description for the market this week. And it doesn’t say much for the bearish case for stocks. The NASDAQ traded within a small box formation (red square in the chart below) within the confines of its uptrend. Pretty much nothing was accomplished here. We’re still in an uptrend. And we’ve managed to hold support, despite the bears’ best efforts. Again, this was a chop-fest. The situation is even more pronounced in momentum stocks. You would think the bears would be able to muster enough selling power to make a company like Shopify (SHOP) – which is trading at 100x sales and up over 200% from its March lows – lose its uptrend. You’d be wrong. Even the VIX, which serves as a volatility index, failed to make a breakout this week. If this is the best the bears can do, it won’t be surprising to see stocks rise to new all-time highs in the next few months! America's #1 Futurist George Gilder's 2020 Prediction Will Stun You “We’re headed for a potential $16.8 trillion reboot,” he says. This “reboot” could create the largest wealth generation in decades. And it has nothing to do with politics, the coronavirus, or the Fed. Click this link to see how to tap into this wealth revolution and learn how it could make you very…very…rich. The Bullish Case Remains Intact Look I get it, stocks are up a lot. And much of this movement has been based on the Fed pumping trillions of dollars into the financial system. So this huge rally in stocks feels “fake” to many investors. However, if the bears are unable to commit enough selling pressure to force stocks to correct even 5% at this point, it’s difficult to see how stocks won’t continue to rise, no matter how ridiculous if feels. Put simply, the bears failed this week. End of story. This means the bullish case remains intact for now. Best Regards, Graham Summers Editor, Money & Crisis It All Started With One Trade… In 1984 star trading guru Chuck Hughes started with $4,600 in his pocket. And starting with just one trade amassed $460,000 in only two years. Now he’s ready to share this simple and proven method. Click here for more details. 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