The stock market is clinging to the ledge of a cliff.
The weekly chart of the NASDAQ is truly. Tech stocks have been trading in a wide range since stocks peaked in November 2021. And they are just BARELY clinging to the lower line of this range on a weekly basis.
Why is this a big deal? Because if the NASDAQ closes below the lower line of this range on a weekly basis, it opens the door to an unwind of most if not ALL of the COVID-19 bull market. This would mean a 40%-50% collapse from current levels.
And all of this is happening right as the Fed ends QE and starts raising rates. Meanwhile, the economy is rolling over and the tech-heavy market is barely able to rally.
Sounds like the recipe for a crash to me!
Help Support Independent Media, Please Donate or Subscribe:
Trending:
- HAPPENING: Shooter’s Grandpa Says Someone Else Bought Him Weapons and Taught Him How to Fire
- It Is Worse Than We Thought
- Hardest landing is GUARANTEED.
- Why did the West Only Go to Shit After WW2 and Not Before?
- Barack Obama absolutely buried by Jason Whitlock.
- This is what happens if you give up your guns: Australia announces TWO YEARS in prison for violating COVID rules
- School shootings were rare until the government put a target on the backs of our children in 1990. What happened in 1990?
- Get ready The tsunami of Layoffs is coming!
- Every Liberal with a Tesla literally screaming!
- Twenty Percent Excess Mortality In Australia
Views: 41