Yesterday the market broke critical support, at 2,800.
This is particularly notable because this breakdown took place despite a clear leak by the Trump administration concerning a trade deal with China. It was only when the PPT stepped in around 1PM that stocks bounced.
Put another way, REAL sellers showed up again yesterday. And the bad news is that they’re not finished yet.
Indeed, from a technical analysis perspective, the next leg down is here.
The RSI has broken its uptrend (top line). Moreover the MACD, a critical momentum indicator, had triggered a “Sell” reading (red box).
The last time we had both of these signals was right before the December meltdown.
Buckle up, the backtest is complete just like in 2000 and 2008… which means… the crisis is now coming.
A Crash is coming…
On that note we just published a 21-page investment report titled Stock Market Crash Survival Guide.
In it, we outline precisely how the crash will unfold as well as which investments will perform best during a stock market crash.
Today is the last day this report will be available to the public. We extended the deadline based on last week’s sucker rally, but this it IT… no more extensions.
To pick up yours, swing by:
Chief Market Strategist
Phoenix Capital Research