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Most trading bromides are useless and annoying (the all-time champ: “Trade the chart in front of you”) but one I think is actually worth remembering is “Trees do not grow to the sky.” That is a reference to stocks going up, but there should be some converse for stocks going down, like “Roots do not go to the Earth’s molten core.” Nah, that’s not quite it.
Anyway, this has been a fun week, no doubt about that for one moment:
This is remarkable. Johnson & Johnson, for decades the most consistently “never goes down” stock out there, has busted its trendline and has clearly moved into a downtrend.
