when the herds turn bullish, just press the buy button, and don't look back.
as es exits the bear channel on this fine morning, it is looking ripe for a full blown melt up \ blow-off-top \ mania phase to end this year with a 💥💥💥
my final upside target for that last fifth wave is at around 4769, but it could easily push 5000 if the conditions allow for it to expand.
november\december are historically very powerful months in the market, so we have seasonality on our side for this move.
lot of bears right now, like everywhere; and the more they short, the higher we go.
💸💸💸💸
ps. there's nothing wrong with shorting the market, so long as you have a plan, and a clean exit strategy. the most important factor i have realized along my trading journey, is that risk management is the single most important component when it comes to being a successful trader. to be able to keep an open mind to every potential scenario, and to never get short sighted by one single bias based on your preconceived beliefs of what may be happening in the world today. a wise man once said, the market can stay irrational longer than you can stay solvent - and that man was warren buffet, one of the most successful people in this world. cheers to irrationality, the maker of our dreams.
ps.2. i'm not saying to fomo into this rally right here, right now; but what i'm saying is, the bear phase might be over.
It looks like your yellow wave 1 and green wave (i) are mixed up here (your wave 3 should be wave (iii) and so on). The move up from the wave (4) looks pretty bearish IMO. Thanks anyway for your perspective!
Eloquent
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@jrizz, thank you for the feedback - very possible we're still playing out a larger wxy - i'm almost expecting it at this point
The move up from the wave (4) looks pretty bearish IMO.
Thanks anyway for your perspective!