Stocks are rallying into the open. However, the technical damage of the last week has been severe.
The S&P 500 crashed through its trendline (blue line). It also crashed through critical support established by the bounces in September and October (green line).
We might get a bounce here to retest that green line, but unless a major Central Bank launches a new monetary program stocks are heading DOWN.
Indeed, in the BIG Picture it looks more and more like the bull market for stocks is over. The last hope for the bulls is that we hold critical support on the monthly S&P 500 (the green line). Otherwise it’s GAME OVER.
Smart investors are preparing now.
We just published a 21-page investment report titled Stock Market Crash Survival Guide.
In it, we outline precisely how the crash will unfold as well as which investments will perform best during a stock market crash.
We are giving away just 1,000 copies for FREE to the public.
To pick up yours, swing by:
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Best Regards
Graham Summers
Chief Market Strategist
Phoenix Capital Research