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FNGD - Revisiting The Signals That Forecasted Every Major Downturn Since The 2018 Volatility Shock: What's Next
MicroSectors FANG Index -3X Inverse Leveraged ETNs due January 8 2038
Introduction
This article examines the current breakdown signal against the 3 measures that forecasted every major downturn since Volmageddon in my previous analysis in August of 2019. Two of the measures have turned negative and one of the measures remains unchanged since July 2019. I will review the four most recent downturn events and address the current breakdown signal from the Momentum Gauges on Friday, January 24th.
Historically, there have been a total of 5 prior Momentum Gauge event signals as shown on the long-term weekly chart above.