This Week On Wall StreetEducation | Asset Management | Trading
Might be building out a Right Shoulder on an Inverted H & S Pattern.
When the S&P 500 Index drops more than 10% in the first quarter the remainder of the year is usually quite strong. On average, up nearly 40%. Wow.
Large bounces are normal in a bear market.
89% of S&P 500 stocks have now triggered a MACD buy signal: highest in history!
Walgreens Double Bottom
Last Monday, as Pfizer’s 2020 flush reached 32%, the stock re tested a major support zone.
Weekly Chart of the QQQ. Back to October '19 levels.
At the March lows($40.00) shares of $PSX had fallen 66%(yes, 66%) from the all time high set back in Q4/’19($120.00).
This is not the first, and it won’t be the last. End of the world? Not so much.