Technical Plunge Reversed to All Time Highs

TVC:SPX   S&P 500 Index
When bearish chart patterns consistently stop and reverse,
and then break out to all time highs like we saw this week,
In the S+P 500,
you just gotta wonder what is the f.. is going on.

If you can't count on tried and true bearish patterns,
resolving themselves in a bearish way,
then you're toast as a trader, and the probability of losing large amounts of money
is greatly increased.

When bearish patterns continue resolving themselves bullishly, that makes their" bullish impact" almost doubly important.

This bull market continues to confound the shorts and put buying skeptics
by simple mauling them over, and making them pay where it hurts the bears the most.

It just makes you wanna stop this whole madness once and for all.

And perhaps take in a baseball game at night, and have a hot dog with everything on it.
That's about the only thing that might make me feel better..., after a week like this/

Woods of Connecticut


This will not top out proper until all the bears give up or eat hotdogs.
Once the truth is realised, and the masses wake up...then the cabal will act to quell the dissent.
Another leg up which could take until Autumn to finish, then an array of chaos as the experiment goes wrong.

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It takes another more serious lockdown with the manufactured “delta variant” (aka COVID 21) to trigger a big drop. How serious? How about quarantine the whole San Francisco like Raccoon city ?
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naraoz pixelated.puzzle
@pixelated.puzzle unfortunately that won’t trigger a fundamental correction. Bull run will continue. Take Australia for example. Sydney the financial centre of Australia locked down possibly indefinitely. Index still bullish gunning for ath
Long until Sept 8.... I been saying that any drop is a btd until 4th quarter.
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name of this game is "FED and midnight miracles", or "FED in Futures". all the indicators are oversold and market is overvalued even investors/traders sentiment is bearish. and then FED started pumping market again at key levels, from oversold to overbought in just few sessions. it's moving like a penny stock. they are manipulating the principals of FREE MARKET, and average class Americans will pay the price very soon.
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Fascinating, isn't? The indices are born to be bulls. The weaker stocks are replaced with stronger one. This model works well to maintain the illusion of the market strength and let the lazy fund managers reinvest into indices without sweat.
Maybe you should just stop being a bear - Stay cash gang and buy the dip. Otherwise, I’ll keep selling you those SPY puts!
wow, I thought it was just me that felt like that!
Well, yes, I am headed to the hot dog stands. I hate to be accused of being one of the last bears to give up, but sometimes you gotta keep a few dimes left to pay the bills.
In a zero rate world of infinite printing, even when it is obvious to a 3 year-old that the economy is steaming away and inflation arriving in spades, financial markets will go up and up until eventually the Fed changes tack.
Is is now very clear that the Fed will never take pre-emotive action because they are in the pocket of big business and private equity etc. It is not in any of their interests to change this free-for-all. No, we will have to wait for the disaster to actually happen. It will be like that lorry load of fireworks which exploded recently when it finally does. And then everyone will wonder how it was ever allowed to happen.
But until then folks, we go UP UP UP.
Am I going to buy it? No. I will wait for the lorry to explode.
But waiting is hard and the baseball game holds better prospects for entertainment in the meantime.
Wtf is right. On point as usual. Hard to believe that the four or five horseman can continue to propel the market any higher. At the beginning of the year my thoughts were that the biggest tech names would still need one last run to move the markets to new highs and form the blow off top. When I look at the charts on these sticks from 2009 until now I can’t do anything but shake my head. Rounding top being formed in the indexes despite these stocks taking off. Wait for it. It’s coming. Volatility should spike again next week.