Something HAS Changed in the Marketplace

SO MANY charts stand at CRITICAL Junctures!!!

Quick Note: We just want to make sure that you notice that this weekend’s note was sent out Friday evening (instead of Saturday evening like we usually do). Therefore, if something big takes place on Saturday…and we don’t mention it…you’ll know why (if you don’t read this until Sunday).

Also, next weekend is Thanksgiving. We had initially planned on skipping our weekend piece over this particular holiday weekend (like we usually do), but given the recent rise in volatility and uncertainty in the markets, we’ll probably send out a brief note next Saturday. (If things calm down quickly next week, we’ll refrain form publishing…mainly because we know that people will be focused on their families….as will we. However, if this volatility continues, we will publish a short version next weekend.)……..Thank you.

Table of Contents:

1) Tech is always key, but keep a close eye on the consumer discretionary stocks and the banks right now.

2) Something(s) HAVE changed in the marketplace. They’re subtle so far, but watch out if they become more compelling.

3) You don’t need a recession or a financial crisis to cause a very expensive stock market to decline

4) There is too much complacency surrounding the growing signs of stress in the financial system.

5) Bitcoin is becoming very oversold and very “over-hated.”

6) All three of the charts on the major indices still stand at CRITICAL junctures.

7) Ditto for the charts on SMH, NVDA, META, and MSFT.

8) Potpourri….China’s stock market is starting to look quite dicey.

9) Summary of our current stance.