What John Howell said in this video:
- DIAbearishshort-termOn the Dow Jones daily chart, after making lows the index is rallying, but the host believes any bounce will likely only reach the 50% retracement area before rolling over, leading to significantly more downside; thus he is bearish.Source
- SPYbearishshort-termThe S&P 500 has broken its upward trend on the daily and four-hour charts, with the sequence of higher lows broken; if it rallies to the 50% level of a large candle and holds, the downside move will be powerful. The host sees the short-term rally faltering and more downside ahead.Source
- QQQbearishshort-termThe Nasdaq had a false breakout on the daily chart and has since broken down, with lower time frames shifting into a downward phase; the host believes there is probably a lot more downside to come, making him bearish short term.Source
- Market Breadthpositive for stockslong-termAlthough the market has seen a short-term rally and current conditions are dangerous, the weekly chart shows the overall structure is still rising (higher lows followed by another advance), so the host views this as merely a short-term correction and a great buying opportunity.Source
- IWMbearishshort-termAlthough the Russell 2000 bounced off the double-top target, it remains in a strong downtrend; the host says he would not want to go against it right now and still expects a lot more weakness to come.Source
- Othernegative for stocksmid-termGold has formed a massive head and shoulders top on the weekly chart and is breaking down; the host says the bull market is over and, based on the measured move, gold is about to get crushed toward around the 3,000 level.Source
- Othernegative for stocksshort-termSilver is making lower highs on the daily chart and is in a complete downward move; the host expects it to break the 55 level and drop to around the low 40 dollar level, meaning silver is about to get crushed.Source