The S&P 500 broke down from a major top. The bounce was bold, but now a gap-fill, Fibonacci 61.8% retracement, and gravestone doji. Record valuations and macro picture are the reasons to be short. Technicals are just icing on the cake. The bear market has likely only just begun.
h/t @crescatkevin
https://twitter.com/OccupyWisdom/status/963946868135940097
Credit bubbles always burst. In what countries are today's biggest credit bubbles? Here are three of them… pic.twitter.com/9RNnQ15jU6
— Kevin C. Smith, CFA (@crescatkevin) July 8, 2017
https://twitter.com/OccupyWisdom/status/964636287784321024
YTD, companies have announced ~$170.8 billion in stock buybacks, the most ever for this early in the year https://t.co/lvPOmGWV7T pic.twitter.com/DIpqUT6W1h
— Trevor Noren (@trevornoren) February 15, 2018