Not financial advice: I'm a trash trader idk how you found this chart this is just me playing around as a beginner and learning:
Random idea:
Stock market has over-extended, it seems to like the long term trend line drawn. Couple times in history it has been retested, the period of retest has been around 140-160 days so far, thus I am targeting yet another retest. I believe that the market is perhaps slightly over-extended. In my final guess of where the retest will be I have not included the latest retest which was due to COVID. I also understand that my target is quite far from where the stock market currently stands as as this idea is publshed, however I also believe based on secondary research that COVID is a large reason for the spike so high after the dip (Retail investors looking for places to put money, high amounts of money being printed, unemployment, even businesses such as Telsa investing into Bitcoin -> The message being money is best invested outside of banks). However with COVID vaccinations, we would presume things to start to go towards where they are. I would also expect many who made bucket loads throughout this period of time, to be more willing to exit the market should a dip occur, with those buying at the top (and i pray) hopefully "puking" their positions early.
Thanks for reading my randomness, can't wait till i find out i've just wasted virtual paper :).
CHOW
Random idea:
Stock market has over-extended, it seems to like the long term trend line drawn. Couple times in history it has been retested, the period of retest has been around 140-160 days so far, thus I am targeting yet another retest. I believe that the market is perhaps slightly over-extended. In my final guess of where the retest will be I have not included the latest retest which was due to COVID. I also understand that my target is quite far from where the stock market currently stands as as this idea is publshed, however I also believe based on secondary research that COVID is a large reason for the spike so high after the dip (Retail investors looking for places to put money, high amounts of money being printed, unemployment, even businesses such as Telsa investing into Bitcoin -> The message being money is best invested outside of banks). However with COVID vaccinations, we would presume things to start to go towards where they are. I would also expect many who made bucket loads throughout this period of time, to be more willing to exit the market should a dip occur, with those buying at the top (and i pray) hopefully "puking" their positions early.
Thanks for reading my randomness, can't wait till i find out i've just wasted virtual paper :).
CHOW