Long term trends on overall market are looking weak.
SPX has a megaphone on the weekly/Monthly chart - typical signals of a chart. We look around the market right now and speculative excess and ferver are everywhere - from BTC to DOGECoin to meme stocks - Next crash on SPX should run ~50% or so, and take 2-4 months. Maybe we get a 3rd touch on megaphone by Sept 1st 2021?
SPX has a megaphone on the weekly/Monthly chart - typical signals of a chart. We look around the market right now and speculative excess and ferver are everywhere - from BTC to DOGECoin to meme stocks - Next crash on SPX should run ~50% or so, and take 2-4 months. Maybe we get a 3rd touch on megaphone by Sept 1st 2021?
Comment:
Monthly Chart:
Comment:
Closer in - SPX is in a rising wedge, atop a megaphone pattern.
SPX broke down through the wedge this month and is now testing the 100d. Market looks to be having a change in Character to the downside?
I wouldn't be surprised to see a 200d SMA tag, nATH, then the great bear market.
SPX broke down through the wedge this month and is now testing the 100d. Market looks to be having a change in Character to the downside?
I wouldn't be surprised to see a 200d SMA tag, nATH, then the great bear market.
Comment:
SPX broken down from the Rising Wedge, atop the 3 year Megaphone.
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November Update.
Looks like backrest of the breakdown from the rising wedge?
Longer Term view - Looks like Jan/Feb might be the top of the SPX - something happens around the end of Powell's term as Fed chair?
Looks like backrest of the breakdown from the rising wedge?
Longer Term view - Looks like Jan/Feb might be the top of the SPX - something happens around the end of Powell's term as Fed chair?
Comment:
Something like this Possibly?
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