Senin, 05 Oktober 2020

Slightly Choppy with a Chance of Breakout

October 05, 2020

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Money & Crisis

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Slightly Choppy with a Chance of Breakout

Graham SummersDear Money & Crisis Reader,

Stocks are up slightly this morning, most likely due to President Trump’s rapid recovery from COVID-19. Remember, futures first plunged on Thursday night / Friday morning when he announced he and the First Lady had tested positive for COVID-19.

Despite all of the excitement, the market remains in a kind of “no man’s land” between resistance (the red line) and support (the green line). Until we break one of these lines with conviction, stocks are in a chop fest.

Chart

Stepping back from the day to day, the S&P 500 looks to be forming an inverse Head and Shoulders pattern. If we break above that neckline, the upside target will be new all-time highs. By the look of things, we’ll know if this will be the case by the end of the week.

Chart

The Driving Force Behind the Market’s Strength

Why would this happen?

Man Who Predicted the Smartphone in 1994 Issues Shocking New Prophecy

George GilderGeorge Gilder, the most accurate technology prophet on earth, reveals a shocking announcement every American must hear.

Investors could have made bank on the trends he’s talked about, years ahead of the curve.

What’s he saying now? Click this link to find out…

Because the Fed and other major central banks have gone "all in" on their efforts to create a stock market bubble.

Forget politics, forget social issues, forget all of that stuff. The one thing that matters to central banks is keeping the markets elevated.

At the end of the day, it all boils down to what I’ve been saying since 2017… that the Fed and other central banks are trapped in a vicious cycle through which it INTENTIONALLY creates bubbles to deal with each successive bust.

We had the Tech Bubble in the ’90s.

The Housing Bubble in the mid-00s.

And now the Everything Bubble in 2020.

Best Regards,

Graham Summers

Graham Summers
Editor, Money & Crisis

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