We are in the middle of a massive pandemic and only staying a float because America is now a socialist economy where we just pay citizens in cash ($2000 stimulus checks anyone?) and the government literally buys its own bonds with money it prints (QE). Did I mention that for the first time since the war of 1812 with the British has the US Capitol been seized and occupied by a hostile force. Worst of all it was American citizens encouraged by the US president? Did I also mention that something like 70% of Republicans still think Biden did not win the presidency. I just hope all of the talk about violence for the inauguration is just rumors. Maybe a straight up civil war would be good for the economy, because nothing like bad news to drive up the market.
Sorry for the rant. Great charts as always. Here is my latest.
End of Jan here is huge test for stocks always go up theory of trading haha
The real test here is breaking through the top of 1Y Peak Channel (magenta), it shouldn't be able to do too much more than range in this channel. It's the strongest reality based rejection/resistance point left on the map, already solidly cleared the 5Y Peak Channel (blue).
I don't imagine we can hold above that too long if we do clear it but we may not be able to breakthrough at all.
The purple 6M Peak Trend is a complete joke but added for FOMO meltup purposes lol.