Bearish stocks used to mean something
Once again, the bears are giving up all of the morning’s progress at rolling over the market and instead left running for the hills for themselves. If you ever thought buying the dip was a joke, it isn’t. It is an absolute tendency that this market has exhibited for years now. Yes, one day that will change, but right now, “BTD” remains the figurehead of this market.
If the market continues to rally into the close, then once again, SPX and SPY will have effectively held off the bulls from breaking the rising trend-line off of the 12/30 lows and the 50-day moving average as well.
Below, as I have done for years now, have put together my weekly bearish list of potential stocks and trade seutps to watch throughout this week and if the market does actually start to do something meaningful for the downside.
Until then…abide!
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