Pretty self explanatory. Remember it's just a simple trendline/channel, don't bet the farm on it.
Comment:
Also I'm not going to get into why here, but I have reason to believe we test the trendline twice, once now and a second time in October. Long term I think we break it going into 2022-2024. I think the S&P500 can reach 4400-5000 as early as 2022, but I think we need another crash first to build up the energy to get there. My target for a low is May 2021.
Comment:
I meant to say test the top of the channel twice. The Red trend line would provide resistance after we break out of the top of the channel. There is also the possibility that 2022 is a target for the low rather than May 2021, which would set us up for an even strong rally going into 2023 and 2030.
Comment:
See my Dollar Index chart which fits with this.
See the comments underneath, I'm extremely bullish on the dollar long term. Even if the dollar goes lower from here, it just means an even bigger the rally after the low is made.
