It is just an amazing rally since last year when you look at it from this perspective. What rational person would have predicted that the largest worldwide crisis in a century would lead to one of the largest market rallies in history? The crazy part is that it does not look like it is going to stop any time soon. How much higher can it really go?
1M
1W
1D
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Here is my guess at what could happen. However, I don't know what would cause such a drop in the next few weeks. It is just that a common pattern is for a stock to retest its linear regression channel before making a wave 5 push.
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One last thing. Here is the S&P 500 stocks above the 200 day average. Note that it is the highest it has ever been for the data on TV.
Oh.... and congrats!!!! My brain is hard-wired to short this bitch. I’ve literally had to start using “automated” exits to protect my profit! Lol. Oh well, whatever works.
T-III
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IV crush?
lamsa66
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I have been following this momentum and have jumped with my call options from 15K to 25K now back down to 16K !
LuisStefanelli
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@lamsa66, I don't get how you lost that money in call options when spx is almost at all time high now
lamsa66
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@LuisStefanelli, I bought long just before Biden Speech about taxes and everything dropped