I'm publishing this mostly as a placeholder to see how this ultimately plays out. We're approaching massive resistance based off of last year's penultimate peak, and the chart looks to be forming an absolute monster head and shoulders pattern. It is painfully obvious what this looks like. I have some doubts that something this obvious could play out, but given this enormous garbage (and low volume) rally off of the announcement that several rate hikes will be coming, Russian war news, inflation, China fears, etc., I'm starting to think this could actually happen. I've also added some timelines to show when we'd be bottoming out.
I hope this doesn't happen, but I am already starting to hedge myself against this. I do strongly believe we will see this hyperbubble pop and/or some sort of market crash triggering event. Take this for what you will, but this is not a bullish chart and I have a very difficult time making a bullish case for the next year or two.
I hope this doesn't happen, but I am already starting to hedge myself against this. I do strongly believe we will see this hyperbubble pop and/or some sort of market crash triggering event. Take this for what you will, but this is not a bullish chart and I have a very difficult time making a bullish case for the next year or two.