Pondering Out Loud re: Using the Dow Jones we can LARP the 'Big Short' featuring real life Michael Burry a Technical and Fundamental POV
dow jones and traditional markets should run a bit longer on schedule for #x mas as cryptos remain on trial and companies become payment, savings and loans apps as they are weirdly all becoming banks I mean phone companies already work with loans and make nice interest on us with the payment plans.
bearish on dow jones on a week old chart, but wouldnt have sold everything yet as the macd hadnt crossed the histogram 0 line probably sometime this week I wonder how it will turn out was all I was pondering. Why not add to to the dollar position?
The RSI set at 22 is hit and shows overbought and by setting the indicator later you can offset the delay which is usually when it waits to show divergence, but not always. The MACD does also show the 0 line on the histogram has been crossed to the downside by the blue and orange moving averages.
I would expect either a continuation to the downside for the Dow Jones or a bounce to retest the high and give us some divergence and then it could most likely drop some more.
Before I even get to use the analogy of a Big Short this guy comes back onto the scene and goes full tilt against the market indexes. He has stolen the shine of what the movie was made about him for with a billion plus short position this time. Now he wants to double up, smart man, and now we can piggy back with his trade as we also have the technical analysis to back it up beforehand and watch the show. Although the real short is with the US corp Petrodollar, the real villain they say.
Ponder back!