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If you like to buy at support, LQD is presenting an opportunity, as it is closing in on a support line that has been in place since 2009.
As shared in the chart, if you are long equities you should respect what happend at (2) when support broke. Interesting that LQD is on rising support and TLT is near resistance dating back to its 2008 financial crisis highs, at the same time. (see post here)
If you are long risk or wanting to go long risk a breakdown of LQD could be sending a caution signal if 2008/09 action means anything.
Usually it makes sense to bet against Cramer, right? It seems he’s saying that the markets are going down down down:
Does that mean that we might be near a bottom?