Here's Why the Stock Market is a Joke! 😁😂
A lot of folks on Wall Street are making a big deal about today's 389 point move on the Dow Jones...and to that, I say, big whoop!
Sure, the broader stock market enjoyed a fairly robust move, but in the greater context, it's going nowhere fast but down. Year-to-date, the Dow Jones has shed 3%. Literally months earlier, the narrative was that you shouldn't doubt this "most hated" bull market.
Now, we have reasons to doubt...
The China trade war is muted, but this could escalate if the Trump administration continues to play hard ball. The Chinese don't like to lose face, and they've never been called out like this before.
I don't necessarily disagree with Trump acting aggressively against communist governments, but we'll pay a price for that.
Plus, we have the whole North Korea situation which could go in all sorts of directions, and of course, the ongoing political drama with Russia. And this is not including our own wacky domestic issues...
The difference with cryptos of course is that when you are down in the stock market, it can take A LONG time to recover.
Exactly! :)
Agreed but that's because the trade volumes in crypto are much lower than the stock market. This will change as more people join the ecosystem.
Quite right, with increasing market capitalization it would also be difficult for people to run pump and dump scams too.
The Dow Jones is forming a big fatty symmetrical triangle. This might be a sign of a big reversal! On top of that, this market is much over extended. It could go higher, but things aren't looking that way.