[SPX 15M] Double Double TOP 1D & 1W LOL... 3680 MAX PEAK! B)
Price dropped out of the bullish Symmetrical Triangle pattern today to retest the bottom of the peak channel and climbed right back in for an eventual breakout to a 1D Double Top and completion of 1W Double Double Top lol.
This feels like a ridiculously bearish structure but a surprising number of ideas out there are confirming my 3680 5Y Peak Channel MAX PEAK from wildly different TA angles so I wouldn't be surprised if we have to deflect off this top blue line first for a bigger reversal.
That probably needs to happen tomorrow or we need a small pullback to prevent invalidation of the double double top. Given the level of irrational exuberance these days, a clear break above the double double top could easily spike us up to the top of the channel within a single day. I don't know how we hold at such heights though... Technical Analysis vs. The World!
Someone today was shtting on BEARS saying WE'RE the ones who are relying on "This Time is Different"!
No, no, no... are you fckin kidding me bro? It's the BULLS whose entire case now rests on something happening that has never happened before. Sustained growth at a faster average rate than we have ever seen. You 4k BULLS are especially doped up on the KOOL-AID.
#TechnicalAnalysisStillMatters
My RSI Flow Model has RSI on the 2Y downtrend channel again (orange):
My new TA Model is still indifferent, waiting for S/R break:
My new Stocks Over 50 Day Average Entry/Exit model also right on local RSI peak S/R:
And for good measure, here is my Acid Trip Model for UVXY stuck around $12.50 as expected, max low probably $10.50 here, which aligns with Feb bottom. Price also wedging into Core Decay Trend, which could trigger a spike EOM:
This feels like a ridiculously bearish structure but a surprising number of ideas out there are confirming my 3680 5Y Peak Channel MAX PEAK from wildly different TA angles so I wouldn't be surprised if we have to deflect off this top blue line first for a bigger reversal.
That probably needs to happen tomorrow or we need a small pullback to prevent invalidation of the double double top. Given the level of irrational exuberance these days, a clear break above the double double top could easily spike us up to the top of the channel within a single day. I don't know how we hold at such heights though... Technical Analysis vs. The World!
Someone today was shtting on BEARS saying WE'RE the ones who are relying on "This Time is Different"!
No, no, no... are you fckin kidding me bro? It's the BULLS whose entire case now rests on something happening that has never happened before. Sustained growth at a faster average rate than we have ever seen. You 4k BULLS are especially doped up on the KOOL-AID.
#TechnicalAnalysisStillMatters
My RSI Flow Model has RSI on the 2Y downtrend channel again (orange):
My new TA Model is still indifferent, waiting for S/R break:
My new Stocks Over 50 Day Average Entry/Exit model also right on local RSI peak S/R:
And for good measure, here is my Acid Trip Model for UVXY stuck around $12.50 as expected, max low probably $10.50 here, which aligns with Feb bottom. Price also wedging into Core Decay Trend, which could trigger a spike EOM:
Data analyst with a passion for best fit lines B)
