SP500 - Fake breakout - bull trap

FX:SPX500   S&P 500 Index
858 17 8
it can't break the continuous line...

A hug is maximum and expecting it is probably too much of a present for all the TA community.... So something disturbing in the middle is really what I would expect.
on swings of 5/20% i have been right often since July09.
i have been strategically wrong in april13 and october13.
I have been tactically wrong on oct14 when i called a crash which did not materialise when SP500 broke 2000 on the japanese qe...

NOTE: since June last year there has been only 7% upside... the market is constrained whatever impression it gives within rallies.
how many times have you been wrong?
+1 Reply
rmwallner theyield
Plenty of times. The key is to being right more often than wrong.
It can't? That type of mentality is a recipe for disaster. The market can do whatever it wants.
+1 Reply
jangseohee rmwallner
which is why i never wait and often jump the gun abit early :-)
YaKa rmwallner
everything is possible in the market....
so "can't" has to be put in the market context.
sometimes you have strong assumptions...
I TELL YOU: this assumption has been right for a while now and I STRONGLY BELIEVE THE LINE WILL NEVER BE BROKEN OVERALL (meaning staying below 1% above in closes).
the lines climb 1% per month compounded and will be at circa 10,000 in 2030... 12% coupounded is a very big progress over time...
Now we see all the same for us indexes....the question at 1 million is when...?
+1 Reply
jangseohee maximus71
you can wait for follow thru.. if you want more confirmation
is the current rising wedge in Nasdaq Composite bullish/bearish?

IanLip jangseohee
this is what I see, late 15 or in 16
+1 Reply
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