The S=P 500 continued it''s relentless
climb up the chart in 2020 this past week, rewarding" perma" bulls,
following a "Buy and Hold "strategy and continuing to provide these bullish trend following traders with double digit returns
while defying bearish naysayers,myself included,rising right up to the Wedge Triangle Apex of S+P 3700.
The market has done its latest fete of magic by forcing new buyers and new money
into the market at higher and higher levels,and then rewarding them for buying in
This is a high risk strategy that leaves little room for error.
Any "significant" bad news is simply ignored, or factored out.
The "why worry, be happy a vaccine is coming mindset"is now in full complacency.
So next week should see yet another technical breakout, bulls say on the way to S+P 4000.
My advise to you is to really watch closely at the technical pattern unfolding "minute by minute."in the market.
Don't get burned,by that fire in the theatre.
If you wish to ride the very big wave up, make sure you know "how" to get to the fire extinguishers,.just in case
With the VIX basing at 20, there's going to come a time on the distant horizon
when fear will reassert itself strikingly over greed.
But never mind all that, with all the bad news that's out there this year just enjoy the party
Greed is good ..remember ?
THE_UNWIND
12/5/20
WODDS/CONNECTICUT
climb up the chart in 2020 this past week, rewarding" perma" bulls,
following a "Buy and Hold "strategy and continuing to provide these bullish trend following traders with double digit returns
while defying bearish naysayers,myself included,rising right up to the Wedge Triangle Apex of S+P 3700.
The market has done its latest fete of magic by forcing new buyers and new money
into the market at higher and higher levels,and then rewarding them for buying in
This is a high risk strategy that leaves little room for error.
Any "significant" bad news is simply ignored, or factored out.
The "why worry, be happy a vaccine is coming mindset"is now in full complacency.
So next week should see yet another technical breakout, bulls say on the way to S+P 4000.
My advise to you is to really watch closely at the technical pattern unfolding "minute by minute."in the market.
Don't get burned,by that fire in the theatre.
If you wish to ride the very big wave up, make sure you know "how" to get to the fire extinguishers,.just in case
With the VIX basing at 20, there's going to come a time on the distant horizon
when fear will reassert itself strikingly over greed.
But never mind all that, with all the bad news that's out there this year just enjoy the party
Greed is good ..remember ?
THE_UNWIND
12/5/20
WODDS/CONNECTICUT