U.S. Markets have been on a long term bull market since the GFC. With money printing finally stopped the injection of capital by large financial institutions is now waning. Multiple analysts have now suggested we are reaching a double top pattern with one calling a short @ 2057.4. We hit this number in the final hours of last nights trading session.
Conversely some stocks have already started downtrending with the two I'm long on (#BABA and #TWTR) coming off their highs. It has got to a point where typical short term (1hr & 4hr) indicators would suggest a bounce however the overall market could weigh heavily on these.
For now I'm holding my Long on these shares and waiting for overall market movement. If we burst through this top we could enter parabolic mode but if we reverse we could be looking at a sharp correction (some are estimating 5-10%). Overall I'm heavily weighted on precious metals with a 4000oz long on Silver barely at break even. If the correction happens I'm expecting a flight to safety into these commodities (which will far outweigh any stop loss executed on my share gambles).
Conversely some stocks have already started downtrending with the two I'm long on (#BABA and #TWTR) coming off their highs. It has got to a point where typical short term (1hr & 4hr) indicators would suggest a bounce however the overall market could weigh heavily on these.
For now I'm holding my Long on these shares and waiting for overall market movement. If we burst through this top we could enter parabolic mode but if we reverse we could be looking at a sharp correction (some are estimating 5-10%). Overall I'm heavily weighted on precious metals with a 4000oz long on Silver barely at break even. If the correction happens I'm expecting a flight to safety into these commodities (which will far outweigh any stop loss executed on my share gambles).
