S&P E-Mini Midcap Stocks Update

All the January 2018 gains this market has made, have now been wiped out,  joining all the other electronic bits and bytes in the great digital graveyard 6 feet under.  Of course, many Bitcoin remnants are down there as well. What the majority once thought was real money,  has now started to evaporate.

You can bet that a big cluster of sell stop orders are congregating,  just below present prices and they will get triggered on the next leg down. Buying on the dips is a one way trip if the little expected dip turns into the, “Big Dip”, like 2002 or 2008.

This market has broken many records on the way up, and I’m sure it will break many records on the way down. One record saw the biggest one day point drop in history.

At the very minimum this Midcap chart should fall below 1200 which will take out my entire 5th wave which Trump takes credit for. He will also get the blame for any stock market crash that will come down the pike in the next few years.

If this is to come true, then my bottom trend line will get sliced in two, sooner than later.  It’s not rocket science to draw trend lines that everybody can clearly already see, because if you don’t see 2 or 3 points to connect, you are in the wrong world. Trend lines are so abused by the majority, that they look like a bunch of kids playing with rulers. Trend lines sure did not help in seeing the biggest bull market in history coming, so it sure will not help now in seeing the biggest bear market since the depression.

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