Mish’s Daily: Big View Slaps Bulls with Warnings
Mish’s Daily: Big View Slaps Bulls with Warnings
Written by Michele ‘Mish’ Schneider
Monday after the close, some warnings signs from our risk gauges popped up.
These are especially interesting given the number of bulls and the amount of money coming into the market.
Technically, we still have the resistance that has not cleared in small caps, retail, or transportation.
And this with a declining dollar, bullish gold, plus renewed buying in agricultural commodities.
Could these warnings reverse?
Yes, but this is the most risk off we have seen as far as the gauges since April.
Risk Gauges: WARNINGS:
SPY (S&P 500) now on par with TLT (long bonds)-you don’t want TLT to outperform-risk off.
HYG (junk bonds) underperforming TLT risk off.
SPY is now underperforming GLD (gold)-risk off.
WOOD underperforming GLD-risk off.
Risk off means just that-so -pay attention-these gauges are incredible. On another note, check out Your Daily Five with 6 picks and setups I did for StockchartsTV.com today, which should be on YouTube later.
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Mish in the Media
Business First AM–Mish covers Palo Alto and how the quants picked up this winner 11-27-23
Real Vision Daily Briefing Mish and Maggie cover Inflation, Tech, Commodities and Picks 11-20-23
Yahoo Finance Mish and Rachelle talk trading range, fundamentals and how to think about commodities right now 11-20-23
BNN Bloomberg Open Mish covers the emotional state of oil and gold plus why small caps are key right now..plus a couple of picks! 11-17-23
CNBC Asia Partial Clip on Oil, OJ, Beans and how to trade volatile commodities 11-16-23
Making Money With Charles Payne Fox–Mish discusses small caps and how they could still run, the Fed and gives 3 picks 11-16-23
Business First AM-Tencent Music TME 10-27-23
Coming Up:
Crypto Town Hall 11-29-23
Schwab Network 11-29-23
Live Coaching 11-30-23
December 3-December 13 Money Show Webinar-at-Sea
Weekly: Business First AM, CMC Markets
ETF Summary
S&P 500 (SPY) 450 support 465 resistance
Russell 2000 (IWM) 181 resistance 174 support
Dow (DIA) 360 resistance 346 support
Nasdaq (QQQ) 388 now pivotal support
Regional banks (KRE) 45 big resistance
Semiconductors (SMH) 160-161 pivotal support
Transportation (IYT) 235 support
Biotechnology (IBB) 120 pivotal
Retail (XRT) 65 resistance and 60 pivotal support
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