All signs point to a sharp downturn in the near future. The SPX could continue consolidating in the bearish wedge with small downturns until August sometime at the longest before it breaks. Once the bottom support is broken on the wedge I will be looking at the next levels in the retracement. Any ideas, both for or against, are welcomed.
Not investment advice, just my take on it.
Not investment advice, just my take on it.
Comment:
Well ladies and gentleman, it looks like the S&P has now broken south of the bearish rising wedge. Now its time to see if there are any governments that provide significant stimulus. If nothing is done, I expect the the decrease will continue with an ultimate bottom of about 2200 on the S&P. I don't expect that it be allowed to slide that hard without some type of significant intervention, so I am in a watch and wait mode.
Not investment advice. Just logging what I am doing and seeing
Not investment advice. Just logging what I am doing and seeing
Not investment advice. Just logging what I am doing and seeing.