NYSE - Short | Disaster ImminentStocks continue to struggle, as economic reality rapidly sets in.
Of all the indexes, the NYA (NYSE) is the most telling, in my view.
To that end, I really don't have much to say, other than this is a beautiful bearish formation, with the economic backdrop to support a short-thesis.
Bank losses are beyond anything this world has ever seen, credit defaults are skyrocketing (and holding new highs), bankruptcies have surpassed covid levels, crypto fraud is completely out of control, and wars are raging on 3 continents.
The only question now is how deep will it go and how quickly will / to what extent will the federal government intervene?
Expect a couple years of deterioration to the downside.
Good luck and godspeed!
