The Investment Thread

bclemms said

Crypto is up as well. Save for bad news overnight I'm assuming that will likely make for green markets in the morning as well. When the rally begins to fade is when I get concerned for a day of true panic selling. Everyone is playing fade the rally and after each rally the selling pressure intensifies. Next leg down appears to be quite steep with support levels as well. All the makings are there for a big down move.

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For the spy, resistance seems to be at 390 and 410 on the way up. I'm not sure if we get that high, but those levels are good to watch for. If we hit and retreat then hit again, watch out for a big time pull back and sell off as you indicated. We may even see a scary 320 in the coming weeks.

In the good news horizon, demand for gas seems to be falling as people are definitely driving less and prices are reflecting at the pump. Here in Florida we have dropped significantly in my local area, going from $5.05 a gallon down to $4.69 today, and this is within a week.