mapping out a few possible scenarios leading up through the first week of August 2021. 2/3 maps convey the view that we're simply overbought and correcting seems the most natural outcome. There's really good evidence of 3-touch bottoms & tops where the upward channel sits. It's really hard to slice a bull flag as a formation that would supersede this concrete channel.
V-shape was accurate until late February. We can split hairs that a W is forming. Tesla was pear-shaped prior to this last drawn-down, but now more resemblant of Half Dome in Yosemite.
A bull scenerio is we round a top at all time highs as people get back to their lives. But we can all agree that the S&P doesn't go unch during periods like this.
T.I.N.A. still exists but sentiment might rule the next few months. Couple in seasonality and some consumer behavioral unknowns about exiting a pandemic, and gravity in stock prices might eventually bring this thing back to Earth, or at least within it's channel. 🤙
V-shape was accurate until late February. We can split hairs that a W is forming. Tesla was pear-shaped prior to this last drawn-down, but now more resemblant of Half Dome in Yosemite.
A bull scenerio is we round a top at all time highs as people get back to their lives. But we can all agree that the S&P doesn't go unch during periods like this.
T.I.N.A. still exists but sentiment might rule the next few months. Couple in seasonality and some consumer behavioral unknowns about exiting a pandemic, and gravity in stock prices might eventually bring this thing back to Earth, or at least within it's channel. 🤙