SPX500 monthy top since 2008 - correction on its way?
I'd like to share my toughts on this, and I'll be happy to hear yours.
Chart inkluding MA's, BB, RSI, Stochastics RSI and my own MA200_DIFF_PERCENTAGE, which is basicly the "kairi" indicator a bit modifyed. It shows the distance from the current Price to the MA200.
Even though you can't see the Whole chart, you can still see the top of 2007/2008 and now Again in 2015.
As pointed out, the RSI is at the same level as in 2007 before the crash, and has even hit the top of RSI a Whole 4 times since 2014!!
My MA200_DIFF indicator suggests that unless we're taking out the 62,52 level, we must be in for a correction.
Furthermore it looks like (but not certain) that another SHS formation is forming, like back in 2008.
My concern though is the current level of stochastics RSI, but if that becomes embedded, the correction gets more likely.
In 2007-2008 there are 5 closing candles at resistance level before crash. Present day we had 2 so far.
Could this be the "asset bubble" ? (stocks moving too high, because interest rates are to low, with small returns)
This is my first chart here at TW, so be gentle :-)
Sorry for the Danish Words, but I guess you Guys can read the chart anyway... :-)
Please share your thoughts...
B.
Chart inkluding MA's, BB, RSI, Stochastics RSI and my own MA200_DIFF_PERCENTAGE, which is basicly the "kairi" indicator a bit modifyed. It shows the distance from the current Price to the MA200.
Even though you can't see the Whole chart, you can still see the top of 2007/2008 and now Again in 2015.
As pointed out, the RSI is at the same level as in 2007 before the crash, and has even hit the top of RSI a Whole 4 times since 2014!!
My MA200_DIFF indicator suggests that unless we're taking out the 62,52 level, we must be in for a correction.
Furthermore it looks like (but not certain) that another SHS formation is forming, like back in 2008.
My concern though is the current level of stochastics RSI, but if that becomes embedded, the correction gets more likely.
In 2007-2008 there are 5 closing candles at resistance level before crash. Present day we had 2 so far.
Could this be the "asset bubble" ? (stocks moving too high, because interest rates are to low, with small returns)
This is my first chart here at TW, so be gentle :-)
Sorry for the Danish Words, but I guess you Guys can read the chart anyway... :-)
Please share your thoughts...
B.