SPY would make all time highs by touching either the pink or the red upper trendline, EVERY SINGLE TIME since July 2013 with no exception. Except since July this year.
SPY made a couple of all time highs since the end of July, but each time it has failed to touch the upper trendlines, in fact, it has gotten farther away from the upper trendline while making all time highs. Is the velocity of SPY increasing at a decreasing rate? (Not a rhetorical question, I'm really asking you, I barely passed Calculus) But it looks to me that it's running out of steam.
I drew a third upper trend line, starting from the end of July, and if you look at the 3 trend lines all together, each trend line flattens a bit as time goes by.
Keep your friends close, and your enemy closer. So, bulls, please don't bully me.
SPY made a couple of all time highs since the end of July, but each time it has failed to touch the upper trendlines, in fact, it has gotten farther away from the upper trendline while making all time highs. Is the velocity of SPY increasing at a decreasing rate? (Not a rhetorical question, I'm really asking you, I barely passed Calculus) But it looks to me that it's running out of steam.
I drew a third upper trend line, starting from the end of July, and if you look at the 3 trend lines all together, each trend line flattens a bit as time goes by.
Keep your friends close, and your enemy closer. So, bulls, please don't bully me.