Jordan Roy-Byrne: When Will Stock Market Crash End?
The Daily Gold, Released on 9/25/22
In this video we look at the history of the stock market losing and then failing at its 20-month moving average as well as the current downside potential and where the next bottom could be. In the last 55 years the market has failed at its 20-month moving average ten different times (counting 1987 instances as one). Only once did it not continue lower in a significant decline. At present, the S&P 500's next strong support targets are 3500 and 3250. There is potentially very significant support at 3250 and this could be the next bottom should the market dump hard in the next few weeks. Another scenario is a weak rally from 3,500. Breadth indicators are currently not extremely oversold but would be if the market dumps hard.
Jordan Roy-Byrne, CMT is a Chartered Market Technician and member of the Market Technicians Association.. He is the publisher and editor of TheDailyGold Premium, a publication which emphasizes market timing and stock selection for the sophisticated investor, as well as TheDailyGold Global, an add-on service for subscribers which covers global capital markets.
Jordan Roy-Byrne: When Will Stock Market Crash End? added by Herman James on 09/24/2022View all posts by Herman James ?+'