It seems to me that SPX is in 2008 scenario instead of 2011, due to the following:
1) the daily chart pattern is almost a copy of 10/2008 so far, with lower highs(unable to overcome overhead resistance) instead of higher highs as in 2011.
2) the monthly RSI, stochastic and MACD look similar to 2008 instead of 2011.
3) VIX is in a stage similar to 2008 instead of 2011.
4) the time span between the crashes -- we're at the end of the time span instead of the start.
However, I'm confused by the following:
1) Elliot wave shows an uptrend to wave 5, while we are at wave IV;
2) US is not in recession, and will probably won't be so at least in 2015 (and 2016?).
Your feedback would be appreciated. Nice weekend!
Newbie
1) the daily chart pattern is almost a copy of 10/2008 so far, with lower highs(unable to overcome overhead resistance) instead of higher highs as in 2011.
2) the monthly RSI, stochastic and MACD look similar to 2008 instead of 2011.
3) VIX is in a stage similar to 2008 instead of 2011.
4) the time span between the crashes -- we're at the end of the time span instead of the start.
However, I'm confused by the following:
1) Elliot wave shows an uptrend to wave 5, while we are at wave IV;
2) US is not in recession, and will probably won't be so at least in 2015 (and 2016?).
Your feedback would be appreciated. Nice weekend!
Newbie