"FED TRAP": Dynamic trendlines crossing at ATH + Election time
Two dynamic trendlines (dynamic support and resistance) are very clearly identified and crossing right at "All Time High level" right before Election time. Technical Analysis can be really amazing to reflect reality.
Need to monitor breaks of such dynamic lines to go short or long.
Keep going like this will lead to a "FED Trap" make it or break it -> S&P current trend engineered to go straight back to ATH
I lean to SHORT as dynamic support is very steep (and therefore easy to be broken) as a result of money coming out of thin air in a very speedy fashion.
Cheers!
Need to monitor breaks of such dynamic lines to go short or long.
Keep going like this will lead to a "FED Trap" make it or break it -> S&P current trend engineered to go straight back to ATH
I lean to SHORT as dynamic support is very steep (and therefore easy to be broken) as a result of money coming out of thin air in a very speedy fashion.
Cheers!
Comment:
They overdid it! Trying to break the upper dynamic resistance but the wedge is pushing back now leading to instability and pointing to lower resistance. Should it break lower resistance, major sell off and 100% short.