Monday, June 22, 2020

Monday Update (6/22/20)

Bull and bear squiggles.


To supplement Mkt Man's comments on GE

6 comments:

  1. https://www.marketwatch.com/story/the-dollar-is-going-to-fall-very-very-sharply-warns-prominent-yale-economist-2020-06-16?siteid=bigcharts&dist=bigcharts


    https://www.marketwatch.com/story/the-decline-of-the-us-dollar-could-happen-at-warp-speed-in-the-era-of-coronavirus-warns-prominent-economist-stephen-roach-2020-06-22?siteid=bigcharts&dist=bigcharts

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  2. In looking at the DJIA 30 stks the only one worth buying for the LT is GE with limited downside risk. At a 5 wave down low zone on the LT charts.

    INTEL stk price looks interesting as its not rallying in the current move.

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    Replies
    1. Thanks. GE does look interesting, especially if it completes an inverse HS near term. See charts posted

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    2. Thx for the GE charts - sorry, I forgot it only use to be in the Dow 30 - but if its price rises it may re-enter.

      Downside it could go back to the May low area in the ST but its prob a floor level there unless a strong bear trend ensues over the next 2-5 yrs.

      You will get in a general bear mkt some stks rising in uptrend that peaked long before others and made early lows. Its probable GE would be in that category. But the key point is that there appears to 5 waves down from the last main peak a few years ago and that should create the floor level. How long it stays at a low level in a sideways accumulation range is another issue.

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    3. GE - also the move from the 2000 peak is classifiable as a large 5 waves down from one view point.

      So the current zone from that perspective puts it as 5 of 5 of 5 waves down.

      Every time Ive seen a chart like that its been a safe and great buying point.

      Delete
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