With the end of the month,and the end of the first quarter of 2023 today,
just a simple glance at the S+P 500 Chart
shows a distinctive "rounded bottom formation",
traced out this month around the banking crisis,
with a chart breakout of the "Triangle of Indecision" this morning above 4060,
with the "bullish implication" that the S+P 500 could soon challenge the Feb.2,2023 High of 4195.
This kind of rally flies in the face of conventional wisdom,
with the "extra ordinary pessimism" of a banking crisis earlier this month fueling the stock rally right now.
Money managers, who are not fully positioned and who get paid for performance,
are no doubt feeling the heat of being "forced" back into the stock market at first quarters end.
They can't make the script any better.
What happens next is anyones guess.
Perhaps some frosting on the Easter bunnies cake ?
Ah well,.. everything happens for a reason..right ?
Have a safe weekend. I will see you on Monday.
SPX NOON EDT OPEN 4085.91
THE_UNWIND
WOOODS OF CONNECTICUT
just a simple glance at the S+P 500 Chart
shows a distinctive "rounded bottom formation",
traced out this month around the banking crisis,
with a chart breakout of the "Triangle of Indecision" this morning above 4060,
with the "bullish implication" that the S+P 500 could soon challenge the Feb.2,2023 High of 4195.
This kind of rally flies in the face of conventional wisdom,
with the "extra ordinary pessimism" of a banking crisis earlier this month fueling the stock rally right now.
Money managers, who are not fully positioned and who get paid for performance,
are no doubt feeling the heat of being "forced" back into the stock market at first quarters end.
They can't make the script any better.
What happens next is anyones guess.
Perhaps some frosting on the Easter bunnies cake ?
Ah well,.. everything happens for a reason..right ?
Have a safe weekend. I will see you on Monday.
SPX NOON EDT OPEN 4085.91
THE_UNWIND
WOOODS OF CONNECTICUT