Milk Road Macro Stage 4 Market Decline: The Phase Where Markets Fall 7x Faster w/ Chris Vermeulen
Feb 17, 2026
Chris Vermeulen, technical analyst and founder of TheTechnicalTraders.com, explains why fading momentum and a rolling-over Nasdaq could presage a sharp market reset. He walks through stage-based decline dynamics, leadership cracks among mega-cap tech, and risky signs in commodities like silver and copper. The conversation covers positioning, cash management, and how to wait for clear trend signals before re-entering.
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Dividend Stocks Aren't Immune
- 'Safe' dividend or blue-chip portfolios can suffer larger percentage declines than the S&P during systemic crashes.
- Concentration of similar assets among retirees can amplify selling pressure and losses.
Gold's Long-Term Uptrend, Short-Term Risk
- Precious metals show mixed signals: long-term moving averages still up, but short-term price action is bearish.
- Gold may look like a bear-flag and could drop 11–20% before resuming longer-term trends.
Silver Could Retrace Sharply
- Silver experienced a euphoric blow-off and subsequent damaged charts that point to deep downside.
- Chris' Fibonacci-based targets show silver could fall toward $50 or even $28 before finding a durable bottom.