It is widely assumed that it is only a matter of hours, and not days or weeks before the S+P 500 the most widely followed stock Index in the world, climbs above big round number 3000.
After reviewing my charts that I keep this weekend, the very big contrary thought that I came away with, was that ust maybe the S+P had already topped out...at 2995.84 on July 3 and is now in the process of breaking it's sharp rising uptrend line, from it's most recent important price bottom at 2728, on June 3.
A simple indicator that I follow, for alerting me to important trend changes, and reversals is the 60 Minute "Know Sure Thing" Indicator.
Shown here for your review you can see that this indicator has yet to confirm the historic all time high in the S+P 500 and is on the cusp of crossing over, and generating a Sell Signal instead.
Assumption they say is the mother of all evil.
Keep that in mind, as traders and investors return this week,from the long holiday weekend. ready to buy, and push the S+P above 3000, I pose this rather simple question for you found in the rather arcane like world of contrary opinion where I live.
seems outa bag for now.. china not looking so hot this evening. but sad truth is, spx is just a happy trump tweet from being firmly stuffed into the bag..... maybe? Unless, Did market players finally realize they're being gamed by tweets? doubt it.