As per the chart, and it's been awhile I posted. Was waiting on indicators to follow through and it did. We closing the month up from the first half of the year drop.
Entering a long position here with some liquidity backing incase it struggles. But it looks like well posed to launch off.
What has changed fundamentally that would lead you to conclude that the downtrend is over? How was May 2020 different from now? How was it the same?
Such a dramatic change seems like it would need something more than more of the same.
WizdomSeekerr
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@CuzDelux, Looks like I nailed it right, it's not always clear cut. Sometimes you need to read the news and see "Why they're shouting recession" it looks like they want to raise the market with all the fear they can do. We been here before.. Never forget March 2020 and all previous dips and the fear that followed.
CuzDelux
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@WizdomSeekerr, Looks that way, based on that chart. But, it still indicates a short-term put btw 4160 and 4175, if you ask me. Also, given the fundamental outlook, if there will be no capitulation, a double-bottom would at least be in order to signify such a life time turnaround. Not arguing, but my indicators say sell.
WizdomSeekerr
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@CuzDelux, Fundamental we all know does not work with the Market. Market only goes where it's least risk and that is a fact. If Fundamentals where a thing we would be crashing from March 2020 but nope. You have to look at it psychologically what is the media telling the people? Recession? but market going up? Seems like a repeat of 2020 March fears.
CuzDelux
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@WizdomSeekerr, Copy. I appreciate your insight. I'm leaning your way, now. I see the light. Good Luck.