Look at the high volume down weeks in these weekly charts. Many banks look like this. Things are going to get very bad.
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Blog post: Day 41 of $QQQ short term down-trend; With “Sell in May” almost here and T2108=31, I think the selling panic is yet to come, see monthly charts
My read of the charts suggests that the down-trend has been slow and will likely end in a steep panic. Look at these monthly charts of the SPY and DIA. The markets have a long way to fall and selling volume needs to pick up for this decline to end. Investors have yet to give up. I hope I am wrong. I have been mainly in cash since November. As long as I get back in below the levels I got out, I will have come out ahead without suffering the anxiety of seeing my pension balances drop. I follow the market trend and nothing else. “Sell in May” is almost upon us.
Blog post: Day 39 of $QQQ short term down-trend; $SQM has GLB to ATH and cup with handle break-out on above average volume
SQM produces fertilizers and lithium. 2022 earnings expected to be up +100%, composite rating =99 and accum/dist=A+ according to MarketSmith. Stayed above its high set in July, 2011. Worth monitoring….
