Here is a very interesting chart that I'm sure will meet a lot of resistance. As with all cycles and patterns, they won't always repeat. In fact, when a support or pattern seems obvious it is not a terrible idea to hedge it as markets typically like to cause the most pain.
TA Weekly Chart:
~RSI broke support
~50MA and 100MA converging, presenting us with an imminent move up or down. The last two times this has happened it has signaled a breakdown and the Bear Market.
~Each break down of the 100MA has resulted in the C wave of the correction
~NOT until AFTER RSI broke above that middle resistance line was the market back to being truly Bullish
~If we categorize every Bull Run by the RSI criteria presented in the chart, the last bull cycle lasted 868 days. This current cycle has been going on for 973 days. That is 100+ days longer than the previous cycle, most likely prolonged because of the Covid Crash.
Maybe I live in a weird bubble where I only come across ATH predictions and "Did you buy the dip, anon?" comments but it seems to me everyone is going to be a millionaire soon after buying the "generational" bottom.
This is possible, but ask yourself... how often does everyone make money in one direction and not lose it by the end of the cycle? Are we sure the economy is strong? Is it really "Up Only?"
Big Banks, Hedge Funds, and Retail all calling for up only.
You're telling me all I have to do is listen to JPM and little Ricky from down the street who bought AMC at $58, GME at $310, and BTC at 65k, to make money?
Interesting.
Getting closer to a deeper analysis for various markets after last week's FOMC meeting. Powell came out today and made a very interesting appearance even though his meeting was last week. I thought this was odd and really makes me question why he made such a different stance in a mere 4 days? What changed?
Anyways, thank you for taking the time to think about some ideas and perspectives. I do agree this cycle seems wonky and strange but I genuinely am starting to think it represents a market that doesn't know where it wants to go. A prolonging of the inevitable.
Here is the monthly version of this chart, I have linked it below;
Happy Trading
TA Weekly Chart:
~RSI broke support
~50MA and 100MA converging, presenting us with an imminent move up or down. The last two times this has happened it has signaled a breakdown and the Bear Market.
~Each break down of the 100MA has resulted in the C wave of the correction
~NOT until AFTER RSI broke above that middle resistance line was the market back to being truly Bullish
~If we categorize every Bull Run by the RSI criteria presented in the chart, the last bull cycle lasted 868 days. This current cycle has been going on for 973 days. That is 100+ days longer than the previous cycle, most likely prolonged because of the Covid Crash.
Maybe I live in a weird bubble where I only come across ATH predictions and "Did you buy the dip, anon?" comments but it seems to me everyone is going to be a millionaire soon after buying the "generational" bottom.
This is possible, but ask yourself... how often does everyone make money in one direction and not lose it by the end of the cycle? Are we sure the economy is strong? Is it really "Up Only?"
Big Banks, Hedge Funds, and Retail all calling for up only.
You're telling me all I have to do is listen to JPM and little Ricky from down the street who bought AMC at $58, GME at $310, and BTC at 65k, to make money?
Interesting.
Getting closer to a deeper analysis for various markets after last week's FOMC meeting. Powell came out today and made a very interesting appearance even though his meeting was last week. I thought this was odd and really makes me question why he made such a different stance in a mere 4 days? What changed?
Anyways, thank you for taking the time to think about some ideas and perspectives. I do agree this cycle seems wonky and strange but I genuinely am starting to think it represents a market that doesn't know where it wants to go. A prolonging of the inevitable.
Here is the monthly version of this chart, I have linked it below;
Happy Trading
Here is the 2018 Bear market comparison,