I've been analyzing the SPX for quiet some time now, and there's some patterns that I keep seeing with bubbles bursting that seem to appear in the SPX in this area.
First of all, I want to draw your attention to SPX back in 2007-08, when the bubble burst. The SPX formed a double top (ith the second top just a little higher than the first one) then fell quickly, about 20% or so roughly, causing a death cross on the daily in the process. However, right after that, the relief rally came, which took the price right up to DMA200. The rally was stopped cold at DMA200 however, and the prices took a nose dive for several months after that, with DMA50 acting as resistance throughout.
SPX has currently gone through almost all of the steps above: double top, second top just abit higher than the previous, sharp 20% ish fall, sharp relief rally, and now sitting just below DMA200
There is a lot of similarity, but some differences too I suppose, in the sense that the Fed and Trump are really wary of the market's performance and very keen to keep it going up at whatver price it takes to do so.
But my question is, Is this the big one?
Like and Share if helpful :)
First of all, I want to draw your attention to SPX back in 2007-08, when the bubble burst. The SPX formed a double top (ith the second top just a little higher than the first one) then fell quickly, about 20% or so roughly, causing a death cross on the daily in the process. However, right after that, the relief rally came, which took the price right up to DMA200. The rally was stopped cold at DMA200 however, and the prices took a nose dive for several months after that, with DMA50 acting as resistance throughout.
SPX has currently gone through almost all of the steps above: double top, second top just abit higher than the previous, sharp 20% ish fall, sharp relief rally, and now sitting just below DMA200
There is a lot of similarity, but some differences too I suppose, in the sense that the Fed and Trump are really wary of the market's performance and very keen to keep it going up at whatver price it takes to do so.
But my question is, Is this the big one?
Like and Share if helpful :)