As many ANP readers know Gregory Mannarino is a trader, his very livelihood dependent on accurately analyzing market data and looking for the patterns that provides him with the data needed to predict what will occur in the markets, and he published commentary he calls "critical" late last night.
Mannarino has been crunching numbers and has analyzed price actions charts and moving averages and provides his own easy to read chart, with a full explanation and timeline of the last two "death cross" events over the past weeks, while showing a "major financial event" is just weeks away which indicates a 3rd death cross event is just weeks away that will cause a major stock market crash he calls historic and states it can "change the landscape of the entire world."
Two critical events have already occurred, and a third appears to be just weeks away.
Take notice to the first white circle 1.
This technical event occurred when the yellow 50 day moving average crossed the blue 100 day moving average. Several days after this event occurred, downward pressure on the market intensified.
Now take notice to the second white circle 2.
In this technical event the yellow 50 day moving average crossed the red 200 day moving average, and just a few days later stocks plunged.
Now look at circle 3.
The yellow 50 day moving average appears to be closing in on the purple 300 day moving average.
It is my contention that when this event occurs, and it appears to be just weeks away, a MAJOR stock market event will occur. We can expect a massive loss in the value of stocks, one which has the potential to be the financial event of our lifetime.
**Unless something intervenes, perhaps another technical occurrence which prevents this 3rd technical event from happening, we may be just weeks away from financial Armageddon.
