ProfitHarvest

[S5FI] DAMN Guys... We Got a 5Y DIAGONAL Bout to BREAK! B)

Short
INDEX:S5FI   S&P 500 Stocks Above 50-Day Average
Notice that every time in the last 5Y we broke below this line, stocks plummeted.

Only options left are...
1. BULLGASM to stay above this line for a bit longer before crashing
2. Start crashing soon

3300 is a good place to pull back to before charging for new ATHs, that is most likely bounce for next downturn right now but 3180 and 3k aren't too far behind, depends on how things shape up.

Comment:
This takes us to mid-December...

If we break up then longing through Xmas should be good, if we break under sht gon get ugly...
Comment:
Still barely hanging on!
Comment:
Almost there! Just extended and widened the pennant...
Comment:
Successfully broke under the blue line and exactly failed a retest, should be more downside now if pattern hold...

Data analyst with a passion for best fit lines B)
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.