SPX Moving with upper limits -- looks like positive earnings TBD
After doing a few long-term charts, this seems to capture the gist...
Starting with bottom from 2008 crash, through today, it looks to be in quite a nice channel... Using last high before crash's bottom as beginning of upper channel limit, crash's bottom as median "0" line, and first bottom since new long-term channel, post-2008 crash, as the beginning of bottom channel limit... currently, riding all limits positively towards upper limits, but also approaching crux of 2 year diminishing wedge... I'm thinking that some stocks may have a good week (NFLX ?), and overall, we may have a better-than-average earnings season for typically-ugly-July, but once this breaches, it will either surge to all-time highs and then have ugly "correction" of some sort, or the market will take another hit, which will hopefully find early support, and trade sideways through the rest of the year...
Moral of the story:
Going long may not be the best option right now -- express caution, and be reading to hold on to your assets for about 6-9 months with little-to-no return... mid-term short with confidence now, or after new highs are reached... possibly go long short-term, and definitely long-term... there are always "corrections" but this type of graph shows that even after terrible, global economic crashes, the world reorganizes and gets back on track, usually rebounding relatively quickly... No need to feed the fear-mongering gurus -- most of them do not even practice what they preach... remember, the 1% has been the 1% for quite a while (reference: "Capital in the Twenty-First Century" by Thomas Picketty)... choose to either make some decent money, as the big, institutional money benefits from unrealistic, unfair algorithmic play, OR risk time freedom otherwise, playing it safe, as your currency become less valuable over time... hopefully Crypto will come to the rescue for the next recession, and lead us to a more sustainable, healthy boom!
Let me know what you think!
Starting with bottom from 2008 crash, through today, it looks to be in quite a nice channel... Using last high before crash's bottom as beginning of upper channel limit, crash's bottom as median "0" line, and first bottom since new long-term channel, post-2008 crash, as the beginning of bottom channel limit... currently, riding all limits positively towards upper limits, but also approaching crux of 2 year diminishing wedge... I'm thinking that some stocks may have a good week (NFLX ?), and overall, we may have a better-than-average earnings season for typically-ugly-July, but once this breaches, it will either surge to all-time highs and then have ugly "correction" of some sort, or the market will take another hit, which will hopefully find early support, and trade sideways through the rest of the year...
Moral of the story:
Going long may not be the best option right now -- express caution, and be reading to hold on to your assets for about 6-9 months with little-to-no return... mid-term short with confidence now, or after new highs are reached... possibly go long short-term, and definitely long-term... there are always "corrections" but this type of graph shows that even after terrible, global economic crashes, the world reorganizes and gets back on track, usually rebounding relatively quickly... No need to feed the fear-mongering gurus -- most of them do not even practice what they preach... remember, the 1% has been the 1% for quite a while (reference: "Capital in the Twenty-First Century" by Thomas Picketty)... choose to either make some decent money, as the big, institutional money benefits from unrealistic, unfair algorithmic play, OR risk time freedom otherwise, playing it safe, as your currency become less valuable over time... hopefully Crypto will come to the rescue for the next recession, and lead us to a more sustainable, healthy boom!
Let me know what you think!