These massive intra-day reversals we've been seeing lately are a result of institutions dumping Tech stocks en masse. A process known as "distribution" i.e. selling to retail late money.
Here we see (Chaikin) money flow has collapsed.
Note the difference from the last top: pic.twitter.com/IrPaM0TglA
— Mac10 (@SuburbanDrone) August 10, 2023
This chart sums it up.
Stocks made a higher high on the left shoulder, lower high on the right shoulder. Extreme speculation both sides.
QE tailwind left, QT headwind right.
Volume similar.
New highs peaked during meme 1.0 pump and dump.
In summary: Deep burial.
This chart sums it up.
Stocks made a higher high on the left shoulder, lower high on the right shoulder. Extreme speculation both sides.
QE tailwind left, QT headwind right.
Volume similar.
New highs peaked during meme 1.0 pump and dump.
In summary: Deep burial. pic.twitter.com/BwvEYDsldE
— Mac10 (@SuburbanDrone) August 10, 2023
Respect the lag.
Housing demand at historic lows
Jobs market a dying tree
Current data lining up with historical data
Manufacturing weakening globally
China imploding
Banks on ice
Yield curves steepening
Service sector activity peakedAll points to a dead count bounce pic.twitter.com/SalWcXe12Z
— Don Johnson (@DonMiami3) August 10, 2023
https://twitter.com/FinanceLancelot/status/1689773196621295616
The clock is ticking & the weak 30 year treasury auction shows it. https://t.co/TDdTFR5SHQ pic.twitter.com/XYhXmEIAjI
— Financelot (@FinanceLancelot) August 10, 2023
Tighter 10s3m spread pic.twitter.com/BklVHEC36K
— Don Johnson (@DonMiami3) August 10, 2023
Fed’s BTFP emergency lending window at a new all time high $ pic.twitter.com/FjbZabt90S
— Don Johnson (@DonMiami3) August 10, 2023
— Financelot (@FinanceLancelot) August 10, 2023
Analysis: Moody’s warning on US banks a wake-up call for sanguine investors