9.18.2020 - Buying Pressure (Downtrend)


There was a decent amount of stocks hitting all-time highs in today's market, but the selling power led both the SPY(-1.55%) and QQQ(-1.28%) into a sell-off day. From the technical perspective, it looks like the market is transitioning from stage 3 into a 4, which is a stock market downtrend.


Brace yourselves, and make sure your stop-losses are armed and ready. Yes, a lot of stocks hit an all-time high, and from those individual stock perspective, the market is "just fine." More or less, too many distributions (sell-off) days have pilled up, making it possible for the stock market to transition into a fast break downhill. But please remember that predicting the market is hopeless. Let's see what happens next week!

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