RE:RE:$12 +Macro picture looking more and more like it could be a drawn out bear market:
- Rising rates and exhaustion from years of overbought tech sector.
Oil is acting like a sanctuary of sorts but definitely not immune to larger market moves.
Short term indicators (RSI, Stochastic, Money Flow, ADX) provide support and resistance points that nimble traders will still earn their lunch on, even if the bear perists. It appears I am not alone in selling any 10% bumps, for no other reason than the markets are looking for a substantial flush and I don't want to be caught in the churn.
My *guess is we get a macro market flush, then some relief rally, then more bear if rates continue to rise.
Hiding in Oily names may hold if economy keeps above water, but nothing is certain in my view.
Good luck!