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Is the Stock Market Making a Major Top?


 -- Published: Monday, 26 June 2017 | Print  | Disqus 

By Graham Summers

 

The market has been sending “topping” signals for weeks now.

 

They include:

 

1)    Fewer and fewer companies participating in the rally.

2)    High yield credit, which leads stocks, rolling over.

3)    Weakening momentum.

4)    Dwindling volume.

5)    Market leaders (the big 5 Tech) beginning to correct.

 

Now the big move is coming. The S&P 500 is completing a massive bearish rising wedge formation.

 

 http://goldseek.com/news/2017/6-26gs/image002.jpg

 

Technically, this pattern could break either up or down, but with the Federal Reserve now aggressively hiking interest rates AND draining liquidity from the system to the tune of $10 billion per month, we could very well see some fireworks to the downside.

 

 http://goldseek.com/news/2017/6-26gs/image004.jpg

A Crash is coming…

And smart investors will use it to make literal fortunes from it.

Best Regards

Graham Summers

Chief Market Strategist

Phoenix Capital Research

http://phoenixcapitalresearch.com/

 


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 -- Published: Monday, 26 June 2017 | E-Mail  | Print  | Source: GoldSeek.com

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