Hey All,
I've used the S&P500 for this example but all the stock market indices will follow a similar move.
Example shows the 4 Hour and the Daily.
So this is going to be interesting...I've been expecting a final rally up before we potentially see some market crash.
My opinion is that the rally is to simply a trap to suck in as many bulls into the market. The market is out there to trick and fool as many people as it can before it does what it really wants to do.
There are two bearish patterns that provide good levels to enter short. I dont see price action going any higher than 2040. I could be wrong but the risk to hold any long positions outweigh the reward.
I was expecting a crash in September but its been relatively quiet.
Now October could be a very rough month. I've done some numbers and we could be witnessing probably the biggest stock market crash since the great depression.
If you look at the IWM (Russell 2000 Index), We're seeing a bearish pattern. Historically the IWM has provided an early warning signal to the market. The IWM is important because unlike the DOW JONES. The IWM is all the small and medium sized businesses. Main Street America. The ones that really drive the economy.
Good Luck
I've used the S&P500 for this example but all the stock market indices will follow a similar move.
Example shows the 4 Hour and the Daily.
So this is going to be interesting...I've been expecting a final rally up before we potentially see some market crash.
My opinion is that the rally is to simply a trap to suck in as many bulls into the market. The market is out there to trick and fool as many people as it can before it does what it really wants to do.
There are two bearish patterns that provide good levels to enter short. I dont see price action going any higher than 2040. I could be wrong but the risk to hold any long positions outweigh the reward.
I was expecting a crash in September but its been relatively quiet.
Now October could be a very rough month. I've done some numbers and we could be witnessing probably the biggest stock market crash since the great depression.
If you look at the IWM (Russell 2000 Index), We're seeing a bearish pattern. Historically the IWM has provided an early warning signal to the market. The IWM is important because unlike the DOW JONES. The IWM is all the small and medium sized businesses. Main Street America. The ones that really drive the economy.
Good Luck