WhiskeyTangoFoxtrot3

Panic if SPX500 Does not Bust Through Record Highs

SP:SPX   S&P 500 Index
Not a perfect pattern, but few are. If the SPX500 does not reach record highs and does not go beyond those record highs with strong conviction, then it will suffer from the exact same chart pattern DJI did right before the 2008 Financial Crisis. If price action starts to move down then we would be witnessing a large head and shoulders pattern right into a financial crash or at the very least a large correction. We already know a recession is coming sometime in the upcoming year, but the question is when. However, that does not mean I am saying this pattern will form. I'm just saying its possible. And if it starts to form, be very very careful.

Also by the way, volume is super f word low right now probably indicating most traders are skeptical as to why they should buy at such high levels. It is the second lowest level of volume since 2006 with the lowest level of volume since 2006 only occurring last year. Big red flag guys and gals. Too expensive for many. Expect institutional traders to attempt to unload their positions that they too believe are probably too expensive.
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Get Help Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Get Help Ideas Published Followers Following Private Messages Chat Sign Out