Incogniteaux

Testing the same trendline again, parte deux ou triois

FX:SPX500   S&P 500 index of US listed shares
69 0 1
The same trendline is being tested again with a sharp, bearish skid in the past five days. Despite bullish peaks it could be the end of the rally we've experienced since mid-Feb, but this trendline is holding strong.

It would be about time for this rally to reverse since it's pushed upward on steadily diminishing volume . There are many reversal signs on the chart but, much like Trump, nothing seems to stop its meteoric rise despite all the signs that it shouldn't. Based on that alone I think it's possible this could stay bullish because the market just doesn't seem to care about anything according to any logic that's been used in the past. Jobs down, the market rises. Jobs up, the market rises. Yellen drops hints at a rate hike, the market rises. Yellen drops hints of no rate hike, the market rises. Oil             is up, the market rises. Oil             is down, the market rises. China shrinks, the market rises. IMF says global economy is shrinking, the market rises.

So, it looks to me this should go down, but what do I know? Anybody's guess. Nothing seems to be able to stop this.
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out