Last week’s stock market bounce now fizzling
If we are talking about last night’s Game of Thrones episode, then what we are seeing here is the part where Jon Snow (the bear) tell Dany (the 10 year bull market) that she will always be his queen. I won’t spoil it for you if you haven’t watched it yet, but for those who have, you know what happens next.
A part from GOT, you have my latest bullish watch-list, and it is a shaky one at best folks. Needless to say, you have any ugly head and shoulders pattern forming on the 5 min chart of this market that looks like it has no where to go but lower. If that pattern confirms and plays itself out, you probably have another 200 points to the downside on SPX. If that happens, this watch-list will get decimated. Of course a few will do fine, but in large part, most won’t. That is why playing it safe right now is so vitally important!
Here’s the list of stocks to watch this week:
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*Disclaimer: Ryan Mallory is not a financial adviser and this podcast is for entertainment purposes only. Consult your financial adviser before making any decisions.
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