Some very worrisome charts for investors to consider.
Stocks just took out their neckline.
Unprofitable Wall Street darling, Tesla (TSLA), which requires mountains of new debt at low interest rates to survive, has taken out its trendline.
Europe’s “canary in the coalmine” just kicked it. Spanish bank Santander (SAN) is sitting atop a mountain of garbage debt from a housing bubble that DWARFED the US's. The country might even break into multiple fragments!
The Nikkei (NIKK) has taken out its trendline. Next up is critical support:
And finally, the worst of them all:
If the above charts don’t scare you, you’re not paying attention.
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Best Regards
Graham Summers
Chief Market Strategist
Phoenix Capital Research