On April 4, 2018, Americans awoke to Chinese autocratic society declaring it has no intention of predicating its relationship with Americans, as heretofore understood by Americans as an imperative for world economic peace and economic growth to provide means to improve world standards of living – on mutually beneficial friendship – but instead that it intends to join Russia and Mexico in gangland government intimidation in lieu of law, reason and human equality.
As suggested on January 1, cash was raised on the Friday before the equity averages began to fall after reaching only 2 points shy of our 2875 SP500 target price.
Not since 1999, have so many stock chart patterns paralleled each other. During 1999, pennant formations, following steep price increases, provided a short consolidation prior to blow-off pricing tops. Again, February, 2018, chart patterns for most industries and equity indices, when combined with empirical economic conditions and promises of world cooperation, briefly appeared as a pennant consolidation for an upside continuation to higher stock prices. Not anymore. Upward price trend immediately depends on a double bottom “W” displacing current set up for a descending triangle (precursor to a change in price direction).
CVS Health Corporation
The Kraft Heinz Company
PayPal Holdings, Inc.
The Timken Company