This seems like the temporary bullish pain trade that will frustrate bulls and bears
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JPo needs to allow that on March 22
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Liquidity wave helped bulls from the most dramatic bear scenario to this one
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So apparently and in fact, market moved to the alternative scenario which is softer
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Since Dec high, SPX is up massive..1.1%. Wow
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The low that SPX made on May 4, 2023 corresponds to the low SPX made on May 14, 2020 which was the start of the blow off into early June 2020, so then to keep time proportions this should go into end of month
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Starting the period for a more important high and potential reversal. Now, eventually at some point unknown this year, it is likely that 4340 to 4390 range will be attacked.
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Early June to late July/early Aug appears to be the higher volatility window
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After 5 months, small caps/mid caps/SPX equal weight are negative for the year. Everyone is in AI
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When I think that I thought about this pattern in Feb and now it is June already and has been playing so well. The real hint was the GBPSEK for this to materialise
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Likely expanding ending diagonal at the lower degree forming so a bit of a blow off