FX:SPX500 S&P 500 index of US listed shares
Pour a drink into your glass. Shake it and place it on the table. Balance always wins.
@NearDrowning, The idea is based on the Theory of Mean Reversal. My observation above shows the mean, which is the middle BB (20ma) and the 100 ema (interestingly coinciding with each other). The other part of the observation shows the strong and continuous momentum that was developed in the months prior to the elections. I don't think that can be shrugged off easily and quickly. I believe that prior negative momentum will slow down and stop the rally. We have fire and water taking care of each other. I'm not saying we're going to crash, but we're going to see some preliminary supply within days. Now that the option expiration game from Friday is over there's going to be some considerable distribution from those who held the levels to force the options expire where it worked for them. Can we find similar patterns on the charts? Yes, we can find anything on the charts - I'm not sure that is necessary.