Postcards: Six Rules for Negative Momentum
This might not last long, but the selling on the S&P 500 and the negative turn on the MACD have us plundering into the red for the first time since April. Hedge.
Dear Fellow Expatriate,
We’re in an ugly situation where little works in the market except for NVIDIA (NVDA), squeeze candidates, and a handful of buyout names. Volume is EXTREMELY low.
Even though OPEC+ announced plans to keep production cuts in place, oil stocks are dropping. More investors are worried about the upcoming PCE number this week, and we’re pressing a rather ugly technical shift on the MACD after last week’s turnout of overbought conditions.
Keep reading with a 7-day free trial
Subscribe to Me and the Money Printer to keep reading this post and get 7 days of free access to the full post archives.