3 Box Technical Weekly Chart shows that the S+P 500
is in a "Multi Week Breakout" Pattern
I have extended the triangle trend line ..forward ( See Chart)
and you can see a realistic possibility," time wise" that this breakout
could be setting up a " BASE", for price advancement well into 2020
Time progression ,with price "above" the breakout point technically
will be "key", to understanding the continued advance in the stock market.
The fall upside breakout in the market is real,until proven otherwise.
Until such time that " big money distribution" occurs, and large continued liquidation of stock
and nothing like that has come close to occurring yet,
then those who might be waiting for the bottom to fall out of the market,
rather could see an "escalation" of the price advance, well into 2020, and beyond.
The market clearly senses, and is discounting the re-election of the President Trump in 2020
with an eventual major trade deal with China on the horizon that will reinvigorate very strong economic growth worldwide.
With the backing of the Federal Reserve Bank in the US, and central banks around the world,
it is going to be increasingly difficult, as time passes, to "bet against" that eventual bullish outcome.
THE_UNWIND
12/8/19
NEW YORK
is in a "Multi Week Breakout" Pattern
I have extended the triangle trend line ..forward ( See Chart)
and you can see a realistic possibility," time wise" that this breakout
could be setting up a " BASE", for price advancement well into 2020
Time progression ,with price "above" the breakout point technically
will be "key", to understanding the continued advance in the stock market.
The fall upside breakout in the market is real,until proven otherwise.
Until such time that " big money distribution" occurs, and large continued liquidation of stock
and nothing like that has come close to occurring yet,
then those who might be waiting for the bottom to fall out of the market,
rather could see an "escalation" of the price advance, well into 2020, and beyond.
The market clearly senses, and is discounting the re-election of the President Trump in 2020
with an eventual major trade deal with China on the horizon that will reinvigorate very strong economic growth worldwide.
With the backing of the Federal Reserve Bank in the US, and central banks around the world,
it is going to be increasingly difficult, as time passes, to "bet against" that eventual bullish outcome.
THE_UNWIND
12/8/19
NEW YORK