The informative charts below are courtesy of stockcharts.com
Below we see the SPY holding bullishly above support.
QQQ is in an up-pointing wedge, which should mean that it will break out to the downside, but so far it is holding above support.
Although gold is in a bearish descending triangle, it is holding above support.
I suspect the US public is really running out of money. I note the restaurants here in La Jolla are lacking customers. Last night I ate at one of my favorite restaurants, and I was the only one in the room. This lack of money seems to be affecting the big retailers. As proof, glance at the charts of the popular big retailers below.
Target appears to be fading and breaking down below its 200-day MA.
The word is that Walmart's same store sales are slipping behind last year's sales, and the stock has suddenly taken a dive.
Costco is super-competitive, but even ... Log in or subscribe to continue reading.
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