As drawn and shown here,
the S+P 500 has ending the week inside a paradyme downward sloping triangle
with price found neatly in the now tightening coil part of the apex triangle
To say that the ultimate resolution of the pattern
could go either way,is perhaps as "genuine""as I can be right now.
There may be those who will correctly "guess" the outcome
and depending on the respect you have for them and their work,
you may decide to follow along before the s...hits the fan.
I would strongly advise instead that you wait
or the market to make its own mind up,
rather than to pal up with someone trying to say they know better.
Skill set analysis always has a 50 % chance of being right,
or wrong, in the same breath.
So you really have to take it all in with a crystal grain of salt.
Materially,on the news front
The Fed Chairman is due to give his Annual Address
to the Jackson Hole, WY economic club on Friday morning Aug.23,at the end of next week.
It is probable that he will try to soothe, and prop the market with something that the bulls will want to hear.
However, with long term interest rates plummeting off the chart
the market now seems to be way out ahead of the Fed in demanding lower rates,
or risk the prospects of an ever increasing real economic slowdown on the horizon
The stock market seems to have discounted plenty of bad news this summer.
The only question seems to be has it discounted all the possibilities enough,
or will it instead just continue to vacillate sharply from one side to the other,
satisfying neither the bulls or the bears fully in the process.
The jury is still out on all that..
It seems to me to be a wait and see what the market will do next,
when push comes to shove,and the battle between the bulls and bears,
bloody at these price levels, finally exhausts itself.
along with the psyche's of the maddening crowd of traders,and investors.
So doesn't it just make you just want to come back next week,,,
...to see how things really turn out ?
THE_UNWIND
8/17/19
50th Anniversary of "Woodstock" ( I worked overtime instead )
NEW YORK
the S+P 500 has ending the week inside a paradyme downward sloping triangle
with price found neatly in the now tightening coil part of the apex triangle
To say that the ultimate resolution of the pattern
could go either way,is perhaps as "genuine""as I can be right now.
There may be those who will correctly "guess" the outcome
and depending on the respect you have for them and their work,
you may decide to follow along before the s...hits the fan.
I would strongly advise instead that you wait
or the market to make its own mind up,
rather than to pal up with someone trying to say they know better.
Skill set analysis always has a 50 % chance of being right,
or wrong, in the same breath.
So you really have to take it all in with a crystal grain of salt.
Materially,on the news front
The Fed Chairman is due to give his Annual Address
to the Jackson Hole, WY economic club on Friday morning Aug.23,at the end of next week.
It is probable that he will try to soothe, and prop the market with something that the bulls will want to hear.
However, with long term interest rates plummeting off the chart
the market now seems to be way out ahead of the Fed in demanding lower rates,
or risk the prospects of an ever increasing real economic slowdown on the horizon
The stock market seems to have discounted plenty of bad news this summer.
The only question seems to be has it discounted all the possibilities enough,
or will it instead just continue to vacillate sharply from one side to the other,
satisfying neither the bulls or the bears fully in the process.
The jury is still out on all that..
It seems to me to be a wait and see what the market will do next,
when push comes to shove,and the battle between the bulls and bears,
bloody at these price levels, finally exhausts itself.
along with the psyche's of the maddening crowd of traders,and investors.
So doesn't it just make you just want to come back next week,,,
...to see how things really turn out ?
THE_UNWIND
8/17/19
50th Anniversary of "Woodstock" ( I worked overtime instead )
NEW YORK