CHART OF THE DAY: The Bulls (and Jets) Are Trapped

08/11/22 08:34AM EDT

Below is a chart and excerpt from today's Early Look written by CEO Keith McCullough. 

Here’s what the Fractal Pattern of a Bull Trap looks like in a US Equity Bear Market:

A) Screens are green. CNBC is bullish.
B) Indices and widely held stocks are at the top-end of their Risk Range™ Signals
C) Bearish @Hedgeye TREND Signal resistance levels are overhead

Yes, it just so happens that this bear market (post the bear market bounce, the NASDAQ is still -19.9% from its all-time #BubbleCap #Quad2 peak of NOV 2021) is signaling FOUR straight #Quad4s too (hasn’t happened since 2000-2001)…

CHART OF THE DAY: The Bulls (and Jets) Are Trapped - 123

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