Double Top Confirmed, Deleveraging is Here!

This could send the DXY up too!

We normally don’t post blogs on weedends.  But we are making an exception.  Monday 11/02/2020 could be ugly, really ugly for stocks!  Here is a Northman Trader chart:

We showed a double top on the SPX a couple of days ago.  This is the DJIA.  Both look weak.  Twitter closed down 21% today.  The deleveraging event we have brought up may happen on Monday!  Look out for it!
 

Peter Schiff, @PeterSchiff, Tweeted:
“When the stock market crashed in Oct. of 1987, a sharp rise in bond prices not only cushioned the blow for diversified portfolios, but lower interest rates supported higher stock market valuations. This time stocks and bonds may crash together, leaving investors with no relief.”
 

Peter Schiff is right.  See this 1987 comparison to 2020:

We had hoped the equities markets would slowly drop into a malaise down, not a sharp drop off.  Right now the latter appears more likely but we shall see.  The VIX index is up 26.6% since Monday.  This is the volatility index for stocks.  With no stimulus and the election on Tuesday, next week could be very interesting.  Monday and Tuesday may reveal what the rest of 2020 will look like.  Bitcoin is still pushing towards $14K but stuck in a symmetrical triangle.  All technical analysis points that this will break up as Bitcoin is clearly in a strong bull market.  But will Stocks ruin the bull cycle for a time?  Monday and Tuesday should be the tell there too.  So far Bitcoin has broken free from the correlation this whole week.  Steering clear of central bank manipulation is what we are in favor of.  Many avenues to look at that are uncorrelated.  Crypto, precious metals, miners, fine art, and real estate.  We have sounded plenty of warnings about the state of stocks, government debt and money supply.  We have provided alternatives.  Monday we will dig deeper into Franco Nevada and the better Gold Mining stocks.  They will do very very well.  There are many real estate options available.  We like inexpensive rental houses using an agency (texasrenters.com) to handle the tenants.  Those opportunities should be good if there is in fact a deleveraging event near term.  Neutral ATM has not been active in Real Estate, we know the gold mining stocks like Franco Nevada, Fractional Art investing with Master Works.  Alto IRA who works with Masterworks offers fractional farm ownership as well.  Neutral ATM is here to get everyone off of zero Bitcoin.

Give Neutral ATM a try.  We have low rates, convenient locations and we are expanding. Contact Neutral ATM, we will answer all your questions about Bitcoin and using our ATM machines. Find a Neutral ATM Bitcoin machine location near you.