When his excellency speaks around noon today, expect the wealthy who have money in the market to see a bit less. This clown is a walking wrecking ball to any accumulation of wealth.
Short the market for the coming tax hikes’ selling and the long march down after the pre-election cooked numbers are showing “some” truth of the slumping economy indicators.
I shorted yesterday. When the big investors and institutions will bail out under the guise of artificially rising market and will sell in December, leaving the retail investors or what’s left of them holding the bag.
Chaikin Money flow Indicator is your friend. From mid June to mid July, the Dow was overbought at today’s same market level that is close to going negative today. The MACD is going up indicating market rising “steadily” while the money is going down! That’s the indication that the biggies are selling into the “rally!”
I don’t have the Money indicator for the S&P 500 or the Russell 2000 but their MACD charts are parallel to the Dow’s MACD chart.