Well this is what I got using pure EW and TA. Watching this for my reference.
Disclaimer: All Ideas are my personal opinion, not a trading or investment advice.
Technical Analysis Method Used:
EW
GANN
S/R
TL
Disclaimer: All Ideas are my personal opinion, not a trading or investment advice.
Technical Analysis Method Used:
EW
GANN
S/R
TL
Comment:
Expanded* Flat...
Comment:
Key Levels
Comment:
if the wave 5 of the diagonal is taken out, I will assume we will see a parabolic move in 2020. If that happens, the stock market will be a bubble "technically speaking". Be be fearful when we start seeing 3-5% move on SPX when its making ATH.
Historically speaking, PE of 30 or more is concerning. Right now according to a website spx is trading at 22 pe which means we might have just had a sector rotation. Also = many energy and financial sectors are still undervalued despite the gains last week. This is also supported by the fact that FANGS are underperforming when we see big green days on SPX. I am to lazy to write everything here but a lot of factors are in play right now.
Historically speaking, PE of 30 or more is concerning. Right now according to a website spx is trading at 22 pe which means we might have just had a sector rotation. Also = many energy and financial sectors are still undervalued despite the gains last week. This is also supported by the fact that FANGS are underperforming when we see big green days on SPX. I am to lazy to write everything here but a lot of factors are in play right now.
Comment:
UPDATE:
No matter how scarry next week will be, as long as we don't see this green price action, there will be no crash. I won't describe this chart in detail because reasons.