These are the support levels I'm watching,
~2115, ~2000, and ~1800.
2115 is a very important level imo. When it broke above it
I had to suspend my bearish expectations. A break back
below it turns the bear alert back on. when you consider
what a joke this election is and also that there
is now reason for the Saudis to dump, and deutsche bank
is rekt or something like that... the idea of a major market
downturn isn't that crazy. I'll try to link to a chart I saw
not too long ago showing how the market normally tops
at the change of presidents. Also this is the complacency
point on the wall st cheat sheet. Also the dollar looks
bullish to me, see other chart.
Based on the technicals, this is an ascending wedge
pattern, that typically breaks down, the Daily RSI
lends some support to that notion, showing a
bearish divergence.
~2115, ~2000, and ~1800.
2115 is a very important level imo. When it broke above it
I had to suspend my bearish expectations. A break back
below it turns the bear alert back on. when you consider
what a joke this election is and also that there
is now reason for the Saudis to dump, and deutsche bank
is rekt or something like that... the idea of a major market
downturn isn't that crazy. I'll try to link to a chart I saw
not too long ago showing how the market normally tops
at the change of presidents. Also this is the complacency
point on the wall st cheat sheet. Also the dollar looks
bullish to me, see other chart.
Based on the technicals, this is an ascending wedge
pattern, that typically breaks down, the Daily RSI
lends some support to that notion, showing a
bearish divergence.