What's interesting is on the longer term one year chart.
The s&p and $AAPL are failing at the 10 sma.
The down trend is clearly visible.
The bear market rallies are failing at that resistance.
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Great observation. The last three times we’ve closed above the 10sma the following day was all blood.
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This is the same pattern at 2000. The junk went first along with Nasdaq. S&P500 went after. Huge bear market rallies. Difference this time is Housing is in a bubble along with high inflation.
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I believe housing will recover faster this time since the overvalue of housing assets caused by limited inventory and not cheap rates. Fewer houses sold, fewer bad loans (hopefully that is)
