Posted by The Dow theory bear signal was just triggered today.
Both indices took out their previous lows. pic.twitter.com/Xy3cUtn4H3
— Otavio (Tavi) Costa (@TaviCosta) September 23, 2022
Value Line Geometric Index finished below its June low & its 2007 high. pic.twitter.com/d2rxpZzdiG
— Willie Delwiche, CMT, CFA (@WillieDelwiche) September 23, 2022
The Deepest Inversion in over 40 Years! When you look at it vs 2008 things start to get real. #stocks #stockmarketcrash pic.twitter.com/PtQRvQUmJY
— fxevolution (@fxevolution) September 24, 2022
The forward 12-month P/E ratio for the S&P 500 is 15.8.
This P/E ratio is below the 5-year average (18.6) and below the 10-year average (17.0). pic.twitter.com/pbTAk7wCfP
— Mike Zaccardi, CFA, CMT (@MikeZaccardi) September 23, 2022
Bulls have one more week to rescue the worst three quarters for the Nasdaq since the lows of 2008:
Or, get buried in Death Valley. pic.twitter.com/Xn3vibNez4
— Mac10 (@SuburbanDrone) September 24, 2022
Goldman Sachs: "Today was the highest put option volume session in history." pic.twitter.com/9r4WR7v4OT
— Geoff Barden (@geoffrey_barden) September 24, 2022
More than 33 million puts traded on Friday, the highest single day of put volume since data began to be collected roughly 30 years ago. pic.twitter.com/4TiWOukd22
— Barchart (@Barchart) September 24, 2022
Keep an eye on new lows.
Significant bear market bottoms occur when new lows contract, not expand. pic.twitter.com/4L3YU4H16H
— Dean Christians, CMT (@DeanChristians) September 23, 2022
$SPX almost hit the June low today. The rally in the last hour is an indication of a bounce on Monday that will likely set up a divergent lower low going into the next short term low on 9/28. The most likely target for a low next week is the 200 week MA at 3585. pic.twitter.com/Ny3pZNmPi1
— CyclesFan (@CyclesFan) September 23, 2022
An observation: Interesting to see "safe" sectors/indices such as the $DIA $XLP $XLRE or value $FTA at YTD lows but risky sectors like $ARKK $TAN $SPHB $XBI $XLY not making new lows or way off their YTD lows. pic.twitter.com/gbt4fPaa3n
— Victor Riesco, CMT (@Global_Trader) September 24, 2022
#SPX, weekly
2008 vs 2022
Even the weekly TSI is showing the SAME pattern.
So, if 2022 is to continue mimicking the 2008 analog, the market might actually make a new low next week and then stage another multi-week rally, which will eventually fail. pic.twitter.com/cQzjwQNjPw
— Yuriy Matso (@yuriymatso) September 24, 2022
#SPX, quarterly
2008 vs 2022
Look at those 2 quarterly candles… pic.twitter.com/c3EwsXeNHq
— Yuriy Matso (@yuriymatso) September 23, 2022
$DXY monthly RSI > 80. Doesn't happen often. pic.twitter.com/GHff4c8O9o
— Mike Zaccardi, CFA, CMT (@MikeZaccardi) September 24, 2022
$QQQ
14 year "QE" Channel has been broken 🚨 pic.twitter.com/b9piJn8WlF— Bracco ⚡️ (@Braczyy) September 24, 2022