We don’t think you can take too much out of today’s action. Yes, the NASDAQ-types again led but that’s all we will give it. We suspect, absent a surprise news event, we can get some upside testing but there have been a decent amount of near-term chart breaks, especially in the financials. Financials were much…
SOURCE: https://archives.warpradio.com/btr/investorsedge/032218.mp3
“Our historical operating results indicate substantial doubt exists related to the company’s ability to continue as a going concern,”
“We acknowledge that we continue to face a challenging competitive environment and while we continue to focus on our overall profitability, including managing expenses, we reported a loss in 2016 and were required to fund cash used in operating activities with cash from investing and financing activities. We expect that the actions taken in 2016…
That was one heck of a body blow yesterday…not because of the drop but because of what dropped. The financials have led since November 9th, simple as that. So the question must be asked whether if this ugly continues, will they lead down? Back in early January, we thought the financials were being distributed…but after…
SOURCE: https://archives.warpradio.com/btr/investorsedge/032118.mp3
Take a close look at all the financials…most all have rolled over. Most have broke near term support and most have broken the 50 day moving average. Most have very big volume. Since financial led the market up from the election, it is not a reach that if it continues, it leads market down. After…
FINANCIALS are indeed now rolling over badly…taking the market down. To be clear, we do not know whether this is of short term consequence or something more…but to repeat, we have not even had a 2% correction since the election. Two words come to mind…WAY OVERDUE. Markets do go down every now and then!
SOURCE: http://nypost.com/2017/03/20/20-trillion-debt-deserves-as-much-attention-as-dow-hitting-20000/
