The Next Financial Crash

SP:SPX   S&P 500 Index
Hi Traders!

Since the last economic downturn in 2008 we have seen considerable strength with only two shallow consolidation periods, the first in 2011 providing a breakeven year and 2015 with a little less than a -1% consolidation.

December has seen price sharply fall which is likely to confirm the largest correction since the -38.47% corrective period in 2008.

Are we witnessing the next financial downturn?
Comment: The 2018 support level at $2,600 has now been broken.

There is no clean horizontal support until price enters the $2,400 zone.

Offfff Looks like mine
+1 Reply
TomHall houstyle123
@houstyle123, Great setup mate, we will see how it plays out.
@TomHall, slowly but steady,holding short dax aswell
+1 Reply
TomHall houstyle123
@houstyle123, I hope all continues to go well your end.
+1 Reply
stereolp15 houstyle123
@houstyle123, IMHO your graph has an important "unclear " point, price doesnt have new high, RSI is ok for divergence but price is 'neutral' not enough steam for up, good size green candle but keeps below previous high, AND is still LIVE candle maybe next month will be more clear if we have divergance or not
houstyle123 stereolp15
@stereolp15, talking about the sp or dax?
stereolp15 houstyle123
@houstyle123, SP - but as you updated - the graph was tooo old the following candles confirmed your option as you posted below the present view. Dax on the other hand the right shoulder is not very solid since in order to have a top you generally need two green candles at least 2 good size for up following 2 good red for top confirmation , am i right? so i dont believe that a green , a red spike , and a green (inside the previous candles) can form a top
houstyle123 stereolp15
M Pattern+ Low volume between Highs,"golden cutting" Macd ,engulfing first month,granted me the knowlowde to predict the market,anyway i dont know ur position but good luck !
stereolp15 houstyle123
@houstyle123, This is very Clear !!!! nice analysis
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