Momentum Monday – Lower Prices Ahead

It is Monday which means Ivanhoff and I are talking Momentum, or in this week’s case the lack thereof.

I would love to be sharing 100 great new ideas, but the market is not offering them up, so I am in capital preservation mode.

One of the best looking charts right now is Verizon, which is like the stock market saying ‘I give up’.

Ivan and I do find some strong stocks to talk about, but they are not the type of growth stocks I care to own.

Here is this week’s episode.

If you need a second opinion, and much more top down technical, check out my friend JC’s post titled ‘These Divergences Are Pointing to Lower US Stock Prices‘.

I love this thought from JC:

We need to reevaluate the market constantly as the data comes in and understand that we have no idea what the stock market is going to do. In fact, I’m willing to bet that it will do something it’s never done. You know why? Because the market does something it’s never done all the time. There are only 100 years of history. It’s easy to do something that’s never been done with such little data and such an irresponsibly small sample size. It’s not just different this time, it’s different every time.

Grizzled veteran Peter Brandt also does a good job of technically walking through the rolling over of global markets.

As a reminder, Marketsmith (by Investor’s Business Daily) is now a sponsor of the weekly show. All the charts you have been seeing in the videos and will continue to see are from Marketsmith. They are offering my readers a three week trial for $19.95. Click this link if you would like to try it out.

Also published on Medium.