ProfitHarvest
Short

[SPX] Prepare for the Reckoning! June is Gonna Be Ugly.

SPCFD:SPX   S&P 500 Index
Looks like a triple top short setup. Fundamentals point to a small crash in June and that will likely trigger programmatic selloffs that crash this beast.

Institutional investors are expecting a crash by a wide margin while retail investors are FOMOing at the mouth. We won't be back here for another year at least.

Green lines are support but decent chance it'll plumb new lows for a few days at least. Fed and vaccine hype can't keep this thing afloat forever on it's own.
Comment: Just checking in on my irrelevant red line...

Comment: We're getting close!

Right time for some deeper analysis:

Comments

It seems that your theory of explanation is quite impressive and experienced
+2 Reply
ProfitHarvest Sheilacarson
@Sheilacarson, Thanks!
Reply
"Try as you might, the day of reckoning will always eventually come." Trade wisely. Never let your emotions trade for you.
+1 Reply
I agree Sir, sell in May and go away 🤷‍♀️
+1 Reply
ProfitHarvest CrptTeddyBear
@CrptTeddyBear, Love it! What a simple way to capture so much.

Always incredible to see how other people spot the same trend in different ways.

Those bottom two should be plastered everywhere, it amazes me how little consideration fundamentals get. Just look at all the bear-haters out there... we don't give a damn if it goes up or down, we just call 'em as we see 'em.
Reply
Good job
+1 Reply
Gaps to fill at 2920, 2864, 2538
+1 Reply
I agree, I think SPX and other indices may need to break the recent lows made a few months ago. The Feds are pumping money like crazy, that is just a band-aide in my opinion
+1 Reply
@MKM35, Much much worse than a band-aid! More like a two month long meth binge and all the drugs are about to run out.
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MKM35 ProfitHarvest
@ProfitHarvest,
I do think we are at some interesting levels though based on this trend line. I just can't fathom that its going up with the economic numbers coming out. seems like it should drop hard and it is just taking some time
+1 Reply
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