Myth and market analysis
Just like London Bridge in the nursery rhyme, neither the Dollar Index nor the S&P are really falling down.
Add BT as a preferred sourceMY grandson has discovered nursery rhymes and wanders around happily singing London Bridge is falling down, falling down. Despite Brexit, this remains a song of mythical doom. It's acceptable for a two-year-old, but these mythical chants of doom are not acceptable when it comes to market analysis.
Currently, some on the media are chanting that the S&P is in danger of imminent collapse. This recent talk is just as specious as the London Bridge nursery rhyme.
Markets do not suddenly collapse without warning. Markets most often give clear prior signs of weakness and these show up as end-of-trend patterns on index charts.
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