Searching for Green Shoots | Bruce Fraser (02.28)
Your Daily Five • 14m
Beginning with a discussion of Wyckoff Distribution and Re-Accumulation schematics, John and Bruce compare and contrast major stock indexes. With last week's volatile and sharp declines, Point & Figure count objectives are updated and they profile targets that were reached into last Thursday’s weakness. Breadth is studied for signs of nascent non-confirmation of the market weakness that could be a prelude to a near-term rally. Finally, measures of sentiment show that pessimism became somewhat extreme which often leads to a rally phase. Does last week's decline mark a psychological low from which a Re-Accumulation structure can build a Cause that can eventually lead to a new markup phase? Or is this a respite in a late stage Distribution that will eventually lead to a larger Markdown phase?
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