Bixley

Furthering my bullish argument

SPCFD:SPX   S&P 500 Index
Broadening Wedges on SPX
interesting comparison to 1974 stock market crash
A broadening wedge formed during that period of time and led to a large bull run
A broadening wedge is forming again
Depends on how long you want to go, I wouldn't be waiting for lower prices though as ANOTHER broadening wedge has formed above the current one. Just go long and wait. Patience pays.

Comments

I agree with you about the technical trading discipline. 1 follow from me.
How ever, I am not bullish because I see lots of problems in fundamental criteria. I am so prudent at this time. Honestly, I am waiting for a "short" set up.
+2 Reply
I did an analysis on spy about a week ago, it was trading in a channel which now has broken with a bearish retest, i thing we go down to test lower technical first
+1 Reply
You’re comparing two different times, in 1974 markets weren’t held up buy trillions of fake monies from the Fed. I cleaned up this week with BTG and leaving my money in cash for the next weeks as I wouldn’t touch the SPX.
+1 Reply
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