5 Charts Warning The Market Top Is HERE (TZA, DXD, SDS, FAZ, SKF, DRV, DOG, BGZ, SH, PSQ, ERY)

Warning signs are starting to build. To start we have a Dow Theory non-confirmation. Usually this is a sign of distribution.

Breadth is diverging. This often happens at intermediate tops.

 
Emerging markets have failed to make new highs.

 China, the driver of global growth appears to be in a bear market.

Oil has now broken the pattern of higher lows. The odds are high that the oil cycle has topped.

Throw in the fact that the current daily & intermediate cycles are stretching and the risks are very high on the long side at this point.

ETF Daily News notes some related bear ETFs:  Direxion Daily Small Cap Bear 3X Shares (NYSE:TZA), ProShares UltraShort Dow30 (NYSE:DXD), ProShares UltraShort S&P500 (NYSE:SDS), Direxion Daily Financial Bear 3X Shares (NYSE:FAZ),  ProShares UltraShort Financials (NYSE:SKF), Direxion Daily Real Estate Bear 3X Shrs (NYSE:DRV), ProShares Short Dow30 ETF (NYSE:DOG), Direxion Daily Large Cap Bear 3X ETF (NYSE:BGZ), ProShares Short S&P 500 (NYSE:SH), ProShares Short QQQ (NYSE:PSQ), Direxion Daily Energy Bear 3X ETF (NYSE:ERY).

Written By Toby Connor From Gold Scents 

GoldScents is a financial blog  focused on the analysis of the stock market and the secular gold bull market.

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