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Stocks Are in BIG Trouble


 -- Published: Friday, 8 January 2016 | Print  | Disqus 

By Graham Summers

Stocks are rallying into the open. However, the technical damage of the last week has been severe.

 

The S&P 500 crashed through its trendline (blue line). It also crashed through critical support established by the bounces in September and October (green line).

 

 http://goldseek.com/news/2016/1-8gs/image002.jpg

 

We might get a bounce here to retest that green line, but unless a major Central Bank launches a new monetary program stocks are heading DOWN.

 

Indeed, in the BIG Picture it looks more and more like the bull market for stocks is over. The last hope for the bulls is that we hold critical support on the monthly S&P 500 (the green line). Otherwise itís GAME OVER.

 

http://goldseek.com/news/2016/1-8gs/image004.jpg

 

Smart investors are preparing now.

 

Best Regards

 

Graham Summers

Chief Market Strategist

Phoenix Capital Research

 


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 -- Published: Friday, 8 January 2016 | E-Mail  | Print  | Source: GoldSeek.com

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