This is really just the same trend I charted in mid March, I've simply elongated the same trend to continue this gradual incline to what I project to be the ultimate potential peak before the market accepts the inevitable recession/depression the real world has entered into. I left the original trend line
(in red) simply to show that the range is the same, the only difference is time this move is going to take to play out.
It is astounding how much faith many have put into the FED to be able to prop the market up as much as it has, but it simply shows a lack of historical education on the behalf of the firms keeping the markets so over leveraged. It's only a matter of time before the tide goes out. Is the potential 6.5% remaining gain worth the +30% downside?
I sure don't think so. But my portfolio is my own, and your portfolio is your own.