13/10/18

"We Saw Similar Setups In 2000 & 2007" - Chartist Warns Of "Deeper Selloff"



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"We Saw Similar Setups In 2000 & 2007" - Chartist Warns Of "Deeper Selloff"
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While Friday's panic-bid scramble back up to the optically-pleasing moving-averages has prompted some hope that the worst is behind US markets, this week's plunge, crashing through several key technical levels, has prompted Craig Johnson, chief market technician at Piper Jaffray, to issue an ominous warning.

'As if by magic' the machines lifted stocks to their critical moving-average support/resistance levels...

But that hasn't "fixed" the technical break...

"We've broken back below these January lows. That's a little bit more of an ominous signal from the ....

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