Well, so far the market has shrugged off last Thursday’s violent 6% drop. Though it does seem the momentum of the mania has been substantially tampered down.
Last week’s drop created an “island reversal” that still remains, an encouraging technical sign for the bear camp:
There have now been as many down days since the appearance of the island reversal than in the preceding month. The fact that the market hasn’t been able to rise higher and fill the gap above created by the reversal is a compelling signal that the rally may have finally run out of steam.
The key question now is: Will things consolidate here? Or will all those open gaps left below over the past few months by the face-ripping rally start getting filled via a big coming drop?
As we do each week, we’ve once again asked the lead partners at New Harbor Financial, Peak Prosperity’s endorsed financial advisor, to share their latest insights into the road ahead for investors.
And this week we’re fortunate to be joined by guest expert John Rubino, proprietor of DollarCollapse.com and co-author of The Money Bubble.
John joins us to discuss the implications of the massive price bubble the Fed continues to blow in stocks and bonds. His command of history shows that what’s happening today has plenty of historical precedent, and always ends in painful currency crisis and social revolt against the ruling elite. Will this time be any different?
Anyone interested in scheduling a free consultation and portfolio review with Mike and John can do so by clicking here.
And if you’re one of the many readers brand new to Peak Prosperity over the past few months, we strongly urge you get your financial situation in order in parallel with your ongoing physical coronavirus preparations.
We recommend you do so in partnership with a professional financial advisor who understands the macro risks to the market that we discuss on this website. If you’ve already got one, great.
But if not, consider talking to the team at New Harbor. We’ve set up this ‘free consultation’ relationship with them to help folks exactly like you.
The post Market Update: Dollar Collapse Or Pitchforks? appeared first on Peak Prosperity.
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