Stocks Are Falling Into Fall [View all]

[BlueWavePsych]

All three major stock market indices completed three consecutive weeks of falling today as we head into fall next week.

Apple, for example, was the fastest to rise in the market's melt-up stage and is already the fastest to have fallen into its own bear market, which it entered today by ending more than 22% below its last all-time high on Sept. 1.

I see a marathon battle between the bulls and the bear as most likely, with the bear tearing away claws full of bullish flesh in painful swipe after swipe and eventually winning the day as the market hangs on those lines of support, maybe tries to rise from them, and then busts through again and again.

Possibly more important today than the NASDAQ's downward trend for the month or the big bite out of the big Apple is the S&P's close. It finally hammered and held decisively below its 50-day moving average (the tan line), which had provided a repeated floor of support this month:

https://seekingalpha.com/article/4375284-stocks-are-falling-fall

TIMBERRRRRRRRRRR!