ProfitHarvest
Short

[SPX] Exactly on 5 Year Trendline... About to Tip!

SPCFD:SPX   S&P 500 Index
We're on the steepest uptrend in this whole irrational bull market since September 2017.

Yesterday ended exactly on the 5 year (roughly average) trend line and possibly started the bounce off and reversal today. Not only that but it also happens to be the exact center of this latest upchannel .

Price stretching harder, higher and steeper to try to keep up!

Seems quite unsustainable, about to topple over. Tomorrow could be a great excuse to dump, timing couldn't be more perfect.

Look out on the way down at 3100, 2600, 2450 and 2100.

Let the market ripen a bit and should be bountiful short harvest in 2-3 weeks!

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Comments

Amazing MOMO greed in FAANGs today. NDQ100 ATH from tulip mania.
+2 Reply
ProfitHarvest DaddySawbucks
@DaddySawbucks, People hate money.
Reply
Thnx for this idea, I did a similar TA to the DAX:



All the best, Sascha
+2 Reply
fundamentals are terrible but the stock market is disconnected, it's just another casino
+1 Reply
ProfitHarvest FastShelter
@FastShelter, Yea most of Retail is gambling hard with little understanding.
Reply
Based on whats going on right now FED so far wins
+1 Reply
@Diaana, It can't last forever :)
Reply
Diaana ProfitHarvest
@ProfitHarvest, I know and it went away as far as it climbed, but honestly I almost gave up:-)) But not realy. I bought some TVIX around 118 and will stick to it:-)) Since the FED didnt introduce anything new or negative rates or what so ever we will see the decline anyway.
+1 Reply
@Diaana, It appears we may be at, if not just approaching, the precipice :).
Reply
Diaana ProfitHarvest
@ProfitHarvest, Yes, but with all the printing in - it will be a very long and painfull agony I am afraid. And I wonder what is going to trigger it. If it was actually not Powell today.
Reply
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