ProfitHarvest
Short

[SPX] Primed for PANIC SELL... Super TRIN Trend Channel Holds!

SPCFD:SPX   S&P 500 Index
Totally hooked on Super TRIN!

This is my fav chart right now. It's so hot you might burn yourself if you get too close.

We're hacking into new territory few have deeply explored publicly!

Look at that beautiful hover bounce off the channel bottom, right back to just below the 2nd SELL S/R (the horizontal red SELL line being the 1st).

Given how things played out Friday, I think this prediction is gonna nail it next week, we should see mostly SELL and PANIC SELL (>2) level activity above that 2nd SELL S/R.

I don't see any way out at this point, I'm drowning in short confirms over here, can't even keep up, so many new people coming out of the woodwork the last couple days!

Also just in the last two days I've got 3 confirms on an ultimate 1700-1750 bottom for the first time. Prior to that we had some early guesses at 1600 but nothing as concrete as what's coming out for this new set.

That still fits very nicely in my second green circle...

Happy harvests!

Comments

This will remain in the range until elections, unless the opposing party gets their hands in wall st and push it down to get Biden in office.
+1 Reply
@Elias369, Trump's best strategy is to let it crash now into Aug and then hit a big stim package Sept when congress returns from recess so the market can make GAINS going into Nov.
+1 Reply
Elias369 ProfitHarvest
@ProfitHarvest, i agree but i don't think he is that smart. I do have to say the market is so rigged that TA fails most of the time. No reason to be this high.
Reply
aaronsmth5 ProfitHarvest
@ProfitHarvest, I agree with this thesis
+1 Reply
kaxo1 Elias369
@Elias369, The Fed has no direct impact on the equity market whatsoever. Check the balance sheet, it's public information. JPow's alleged "flooding the world with dollars" (aka printer go brr) has been nothing more than massive use of opened dollar swap lines by the Bank of Japan and ECB. Ever since Allan Greenspan, the only thing the Chair of the Federal Reserve does is publicly give monthly targets and hope that the investors are fooled into a self-fulfilling prophecy, which in this case worked for retail, but banks still aren't lending and institutions are buying up t-notes way above bid prices because they know there's far worst things looming in the immediate future. Neither Trump nor the rest of the government can stop this machine that they've started.
+5 Reply
@kaxo1, been wanting to short this circus
+1 Reply
kaxo1 Elias369
@Elias369, It's ready for a decent-sized correction, but the "Big One" likely won't come for a while, probably some time in 2021 or later
Reply
@kaxo1, Thank you will keep my eyes peeled.
Reply
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