Blood In The Streets? (PREMIUM-UNLOCKED)
The following post was originally issued to The Lyons Share members in the afternoon on Thursday, October 11, 2018.
As my father would say, in a sharp decline, SUPPORT is just a 7-letter word. However, there does come a point in which the risk/reward prospects become so overwhelmingly positive that it merits at least a small knife-catching attempt. Of course, at such a point, there should be both evidence of washed-out sentiment as well as compelling price “support” levels. Our analysis would suggest we are near such a point in sentiment as well as the charts as indicated by the approximate levels in the following indices:
S&P 500: ~2675-2690
Dow Jones Industrial Average: ~24,750-24,950 (24,300 below)
Nasdaq 100: ~6750-6800
Russell 2000: ~1554
S&P 400: ~1856-1879
Disclaimer: JLFMI’s actual investment decisions are based on our proprietary models. The conclusions based on the study in this letter may or may not be consistent with JLFMI’s actual investment posture at any given time. Additionally, the commentary provided here is for informational purposes only and should not be taken as a recommendation to invest in any specific securities or according to any specific methodologies. Proper due diligence should be performed before investing in any investment vehicle. There is a risk of loss involved in all investments.