Boeing [BA], which has long topped portfolio managers’ list of own-or-die stocks, is the only performer we need watch on Wednesday to determine whether the bull market is indeed dead. From the look of things at Tuesday’s close, the stock is eager to put the fear of the lord in bears’ hearts, and to rebuke the news media for all those scary, hand-wringing stories they’ve trotted out over the last couple of days. I’ve provided some precise benchmarks in BA’s chart (see below) so that you can follow the action knowledgeably and judge for yourself. Bottom line: If the stock pushes past 350 over the next day or two, the case for a bear market will be as dead as Kelso’s nuts.
Boeing’s Rally Will Determine If the Bull Is Really Dead
- February 7, 2018, 6:45 am
09152017 BA made the largest pension contribution in over a decade placing 3.5$ in its share.
At that time the ‘administrator noted’ says it expects to sell them over the coming year.
BA is up 40% from the 249.00 +/- level when this was done.
———-The 50 VIX level had been hit 3 times since 2008 each spike was a selling climax.
The market ahead has not reach this level (a selling climax), which means or suggests any reading of VIX greater than 50 suggest a larger and greater liquidation is ahead.
Markets have severe crash like events from low points not high level points. The recent ETF and ETN redemptions going on towards level VIX positioning over the last decade may become a ‘1 second event’. Suggesting further that todays low point in INDU/SP could and will be observing a further 25% from todays low point of INDU 23780.74, this would be +/- 17835.55 level or the 1 year ago levels to bring in a selling climax.
Observing that a greater and longer term trend change to the larger degree is in the works.
VIX prints of 50 level and greater should be observed.
——–Have a great day Rick.