Bears have staked their claims on the bragging rights till the next short term support of the S&P500 index at 1880 points. Bears have pierced the bullish support at the 50 DMA and looks to advance deeply (lower) in no time.
Click on chart to enlarge (S&P500)
Even Warren Buffet's Coca Cola company, a very strong dividend play, looks to be topping out with its multiple top formed on the weekly chart. This leads me to believe that the stock markets have further room to fall and the drop will be very broad based. Check out its weekly and daily chart appended below.
Click on chart to enlarge (Weekly Chart - Coca Cola Co.)
Click on chart to enlarge (Daily Chart - Coca Cola Co.)
Click on chart to enlarge (S&P500)
Even Warren Buffet's Coca Cola company, a very strong dividend play, looks to be topping out with its multiple top formed on the weekly chart. This leads me to believe that the stock markets have further room to fall and the drop will be very broad based. Check out its weekly and daily chart appended below.
Click on chart to enlarge (Weekly Chart - Coca Cola Co.)
Click on chart to enlarge (Daily Chart - Coca Cola Co.)
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