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US markets weakness – Technical factors, Central Bank Meetings, China, and Big Tech

Cory댊
September 21, 2021

Joel Elconin, Co-Host of the Benzinga Pre-Market Prep Show joins me to share his thoughts on the US market weakness that is now in the 3rd consecutive week. There are a lot of factors to consider so we touch on the them all with an outlook on just how relevant they will be moving forward. These factors include technicals, central bank meetings this week, China and the Evergrande issue, and how Big Tech is performing.

Click here to read over Joel’s site – PreMarket Prep

Discussion
35 Comments
    Sep 21, 2021 21:24 AM

    The Rothschilds are the most powerful family in the world they control all the central banks and all the countries they have a net worth of $500 trillion dollars.

    Bill Gates, Jeff Bezos, Elon musk and all the others including Buffett are all bottom feeders have no influence at all it’s the Rothschild family. They stay very low key. That’s how they control everything.

    China’s the next superpower. America’s going to suffer enormously.

      Sep 21, 2021 21:34 AM

      holy grail
      out of curiousity do you happen to be a member of the flat earth society. I understand they came into being post Columbus trek to the new world and apparently are still going strong.
      https://www.cnn.com/2019/11/16/us/flat-earth-conference-conspiracy-theories-scli-intl/index.html

        Sep 21, 2021 21:41 AM

        The ignorance of the flat-earthers is matched only by those who trust CNN.

          Sep 21, 2021 21:48 AM

          πŸ‘πŸ‘x10 September 21, 2021 at 11:41 am,
          Matthew says:
          The ignorance of the flat-earthers is matched only by those who trust CNN.

        Sep 21, 2021 21:43 AM

        Hey jonsyl, excellent topic it’s very controversial this flat Earth theory. There’s some people out there that are convinced that we live in a dome and the Earth is flat.

        I think it’s a false narrative and theory considered falling for that too. However, there’s just too much evidence that Earth is a planet and sphere we rotate at about I guess 1,000 miles an hour for gravity and I just don’t see a flat Earth theory as being realistic.

        I haven’t done any more research on it because I’m convinced it’s false the flat Earth theory there was no need for me to waste any more time on nonsense.

        Maybe I’m🀑 wrong however I don’t think so.

    Sep 21, 2021 21:47 AM

    Hi HG … Have you got any hard evidence , to back up the crazy claims , you just wrote in your first two centences. Your third one i agree with completly.

    Sep 21, 2021 21:02 AM

    How ya doing Tony, I understand your concern however they’re not crazy claims. Who do you think controls all the world central banks. All their policy procedures are in lockstep and are coordinated together.

    The Rothschild family is not an entity that is exploited whatsoever in any shape or form when it comes to their massive 500 trillion dollars in wealth. Their wealth is controlled by so many different entities and holding corporations and there’s so many strategies to keep any attention of them whatsoever. Briefly, that’s how they control everything and create massive wealth because if they were ever really found out their days would be numbered. They refrain and stay completely out of the public eye. The Rothschild family secretly operates behind many closed doors.

    You can research it on the internet. There’s only one entity that controls all the central banks and that’s the Rothschild family.

    You’ll have to do your own due diligence is just one of those things so it’s not a conspiracy theory because there’s only one entity that could control all the central banks and that’s the Rothschild family.

    Joe
    Sep 21, 2021 21:20 PM

    Dismal bounce today, especially in the PM shares. AEM was up to 54, ended up down.
    The selling resume in earnest tomorrow, don’t be surprised to see the DOW take 1,000 point hit.
    If you haven’t sold now you will regret it.
    You should be in mostly in cash by now, because you are going to need it.
    Just keep and eye on the homeless population in your area. If it already hasn’t gone up it will soon and there will be no way to avoid seeing it unless you just decide to stay at home and not go outside.

      Sep 21, 2021 21:25 PM

      Sorry Joe, I decided to go down with the ship. 🚒 Ship ahoy !

        Joe
        Sep 21, 2021 21:38 PM

        Good luck.
        The stars are aligning with an October crash.
        This administration is bringing it about, and they will not let this crisis go to waste.

          Sep 21, 2021 21:45 PM

          Ship ahoy !!!

          We’ll, the only thing to fear, is to fear —“” fear itself. “”

          It’s all a psyop !!!! You don’t lose unless you sell.

          Have a big bank roll set aside to buy the bargains.

          Ship ahoy !!!!! πŸš€πŸš€πŸš€πŸš€β¬†οΈ

            Joe
            Sep 21, 2021 21:48 PM

            I do have a nice bank roll, and I do agree that the bargains to be had in late October/early November will be amazing.
            Too many people will be too deep in shock to buy those bargains when they come about, and I’m not just talking about bargains in the PM sector.

    Sep 21, 2021 21:52 PM

    Make Your Move Joe !!!

    Let them make their move.

    My dry powder “””is at the ready”” only for fire sale bargains. No exceptions.

    Sep 21, 2021 21:56 PM

    Looks like the final move down in the PM stocks is now beginning—it’ll take place the rest of this year. I can smell the coming deals.

      Sep 21, 2021 21:07 PM

      Doc, and others, what do you think would be a prudent approach in light of what Joe has noted above regarding a possible October market crash?
      Would you continue to accumulate and hold if there’s a significant dip during the Fall?
      Also, will you plan to liquidate your holdings at the moment(s) of the crash? That’s one area I don’t hear discussed that often on this site. We mention having stops along the way, but, in the case of a drop, are you set to drop out of pretty well all of your holdings or ride through to the other side?

        Sep 21, 2021 21:21 PM

        Canuckski, I was taken to task when gold was peaking in August of 2020 and I sold off some of my positions and took profits. I said back then that I was only less then 40% in the PM stocks after selling some profitable positions. The stocks I continued to hold were companies I owned at lower cost basis—there were those that were in stocks “100 percent” (all in) and thought gold was going much higher at that time—I can understand that thought process since the Fed was printing money like crazy —–however, I always keep a lot of cash on hand when the technicals begin to look dicey. At this time it appears we are on the verge of one final blood bath for the PM stocks with the carnage being pretty much over by the end of the year. Do not catch that sharp falling knife right now since the PM stocks will probably sell off with a conventional market sell off. Also, when the PM stocks get a lift in the future it will probably not be similar to the take off of March 2020 since there will have been considerable chart damage and you will have plenty of time to pick and choose since it should this time be a gradual bottoming process. I will mention when I personally start to purchase more then just a “nibble”.

          Sep 21, 2021 21:08 PM

          Thanks Doc. I have a sick feeling that we’re going to see a lot of damage as opposed to enjoying a run higher in the PMs.
          I appreciate you taking the time to respond.

        Joe
        Sep 21, 2021 21:28 PM

        It should be clear what you should buy should there be a crash, anything that isn’t leveraged to the eyeball/deep in debt.
        The greatest fear I have is that the current administration, having cheated and cajoled their way into power, will use the crash as a mean to an end.
        Their intentions are purely selfish. Their lust for power and will to do ANYTHING to maintain it will hamper any meaningful recovery.
        A recovery, in fact, could be the last thing on their minds.
        Whether it is malice or just corruption and incompetence, the last thing they seem to be interested in is freedom and the values that America was founded upon.
        And like I said before, the media and the brainwashed masses will enable them in their goals.

          Sep 21, 2021 21:42 PM

          You’re right Joe. It’s going to get a lot worse. Catastrophically worse. Are you spiritually ready

    Sep 21, 2021 21:06 PM

    This is not a good time of year for the PM stocks especially with the values being so depressed you’re going to have tax loss selling there’s just no way out of this. There’s absolutely no rush to buy and there’s no strength in this market. lol.

    There is no FOMO !!! lol

    Most likely the bargains are coming there’s no question about it. The odds are increasing by the day with this pathetic action in mining shares.

    We’ll see, you couldn’t get me to buy right now. Not with this action. I 🀑could be wrong however the odds are clearly in my favor I believe. That could be wrong too lol

    Sep 21, 2021 21:08 PM

    “Nibbled” on some OSK.TO today—-whenever it impinges on the lower monthly BB I purchase a little although it looks like this time pricing may start to push the lower BB down. Joe mentions that “Too many people will be too deep in shock to buy those bargains when they come about, and I’m not just talking about bargains in the PM sector”—-I feel empathy for those who talked about how you should be 100% in the PMs when the gold price was peaking in August of 2020. Only margin purchasing helps them cost average some of those losses especially if they’ve been trying to catch a falling knife.

      Sep 21, 2021 21:45 PM

      Osk.to never heard of it. I don’t deal with any of the Canadian exchanges. Probably missing out that’s just my personal preference. I don’t know why probably just dealing with foreign securities. NYSE mainly. NASDAQ is okay. OTC is off my radar screen liquidity could be a problem with the large purchases liquidating…. the market makers sketchy too. Only had to deal with it a few times that was a long time ago and I didn’t care for the liquidity issues at all.
      A tedious time consuming fiasco could take several days to get out of positions horrible. Unless you’re going to just throw them to the wolves.

      I’m holding on to a good core right now and I’m in a decent profit nothing too spectacular. I’m not selling and I’m just going to add to positions only on fire sales only, no exceptions by year end if that comes around. Looking forward to my setup. lol I’m about 80% right now odds for a monster rally next year if we can go down in December November time frame this year. Even though I’ll probably lose my gains from my core I’d much rather see a better buying opportunity towards the end of this year because it’ll be a perfect setup as far as I’m concerned and the next year looking at around June of 2022 as a sell point. 🀞 With that being said I’m looking forward to the better prices the end of this year that’ll set up next year perfectly for that monster rally I’m looking for. Also, I’ll be pretty much all in adding to all the positions 300% long margin. When the prices are cheap I don’t have a problem with margin at all it always works out. I would never do it on a Momo trade.πŸ‘ŽπŸ‘ŽX10 Momentum and I’m not a momentum trader or investor.

    BDC
    Sep 22, 2021 22:52 AM
    Sep 22, 2021 22:54 AM

    Picked up some more Emerita this AM as its chart yesterday looked like Labrador’s on Monday. Emerita got a pop this morning and gapped up before I catch the low at open. Added a lttle to Labrador also.

    Tom
    Sep 22, 2021 22:28 AM

    long PEMIF