FAST FIVE: Trader Warns "Something Stinks"
Trader Warns “Something Stinks” Authored by Sven Henrich via NorthmanTrader.com, New highs every day or so now.
Things are great. Melt-up talk is the rage.
Firstly here's the $XLY now, it has formed a bear flag and actually broke below this week: As I noted in the tweet $XLY has not participated in the market rally to new highs, in fact it has put in a series of lower highs.
But no, $AMZN is showing the same sudden weakness: Something smells and the stench may come from the consumer.
@federalreserve pic.twitter.com/9eZUbAXOoz – Sven Henrich (@NorthmanTrader) November 8, 2019 And now in 2019 the Fed insists the consumer is strong.