Okay, now that I got your attention. Here is my big picture view of the the S&P 500 over the last few years. The one thing that I have always had in the back of my mind was the rally since March 2020 was just an attempt to regain the 2019 rising wedge. It is very interesting that it looks that way by the patterns I drew. I always felt the crash in March 2020 was way out of scale and that the rally was just as equally out of scale. Was the market well on its way to reaching this point even without the covid crash and rally?
Any way, back to my headline. The RSI and PMO are not showing positive signs for the market. Each of them on the weekly are rolling over. The price pattern over the last month or so is also not encouraging as it too is looking kind of flat and rolled over. Maybe this Ponzi scheme of a market is about to take some serious profit or like the last year will just continue to climb on irrational exuberance.
Enjoy and hope it helps.
Any way, back to my headline. The RSI and PMO are not showing positive signs for the market. Each of them on the weekly are rolling over. The price pattern over the last month or so is also not encouraging as it too is looking kind of flat and rolled over. Maybe this Ponzi scheme of a market is about to take some serious profit or like the last year will just continue to climb on irrational exuberance.
Enjoy and hope it helps.
코멘트:
Fib levels to go with this rally.
코멘트:
코멘트:
End of day Wednesday. Sitting right on the support line of the rising wedge. Are bonds prices going to the straw that breaks this rally's back?
코멘트:
Thursday end of day. S&P really bearish now.
1D
2h
1D
2h
