Thursday, July 28, 2022

THE MELTDOWN REPORT 7/28/2022

I'm experimenting with a new type of blog post focused solely on market technical analysis. No major rants and no Econ data. That way I can show more charts and cut down on Twitter spam.

What we're looking for is a second overbought bull trap which will lead into the final meltdown phase. 


The SPX is back to overbought and upper trendline:










 


Lower pane is % bullish, Industrials:







Hot money is starting to leave the U.S.