I’ve written in recent reports that one primary scenario to watch out for is this idea of a second-wave of base- and breakout-failures among current leading stocks and groups – essentially a Second-Wave Short-Sale Theory. Generally, such failures will begin with a break below the 10-day and 20-day moving averages combined with a test of or a move below a prior base breakout point. This type of action was evident in a broad number of leading groups yesterday, including stuff stocks like industrial metals.
March 24, 2021
March 24, 2021 7:30 pm ET
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