yogamarc

massive RSI divergence -SPX500 to dump big time 2019 or 2020?

Short
yogamarc Updated   
FX:SPX500   S&P 500 Index
i like trading the spx at the moment because of its volatility, I would imagine it is very likely to shoot up one more time at some point like it does every year around Christmas and New Year, and i don't want to be the harbinger of doom, but the RSI divergence created over the last year looks deeply ominous to me. When i first saw it and squiggled it out on the weekly, it took me to 2020, but its very much there on the daily, so it might well be sooner than that - especially if the price inflates as much as my squiggle up to Christmas and beyond .... Looking back at the charts all the way to the '70s I can't find a bearish divergence as big as this over such a short time frame. I also spotted a bearish ascending wedge starting November 2017 til now (the span of the RSI divergence). Unless something radical happens in the world to make things right, or the centralised economy can be held up with some new contrivance by those in power, I think when it comes, correction will be harsh and swift. . And if so i would imagine there won't be a lot of support until 21111 - the 2015 levels. Buckle up, and keep your eyes peeled is my advice (but what do i know? - i'm completely new to this game - comments very welcome )
Comment:
so its following what I thought might happen ...RSI has already reached 60%, which is the normal point of reversal in a bear situation, so it might just turn down from here directly (which goes with the impending death cross on the daily 200/50 MA). If thats the case, its probably the best result for the US economy - if it tries to overheat all the way up to previous highs, the subsequent collapse will be devastating... If this follows through to a triple top reversal, then there is a chance of a triple bottom at around S1, 2620, or S2, 2570.
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