SPY SPX SP-500 Bull market ahead? Or another fake out Rally?
Whew! Was the December sell off just another opportunity to buy the dip? Or was it something more substantial? Sometimes a trader can simply take a bigger view and look at the trends and the channels that price is trading in.
On this chart we can see the huge black channel that has been active since 2011. (Although this chart appears "busy" near the right side, we'll try to zoom in more with another chart to be posted later)
Please note that the lows of the black channel have held for years, until the price broke the lows in Dec 2018. It appears that it was a great time to load up for long term holdings. Hmmm ... or is this a good time to be selling them?
Yet upon a closer look, a very powerful crack to the 9 year bull market has happened. Here we are only 3 weeks later and market mood has changed to a very bullish emotional time. Many writers are saying that we are going to 3000+.... How many times have we seen that?
We see this recent activity as a retracement rally that will once again fool traders. The transfer of money from small traders to the big boys... same song, second verse...
On this chart we can see the huge black channel that has been active since 2011. (Although this chart appears "busy" near the right side, we'll try to zoom in more with another chart to be posted later)
Please note that the lows of the black channel have held for years, until the price broke the lows in Dec 2018. It appears that it was a great time to load up for long term holdings. Hmmm ... or is this a good time to be selling them?
Yet upon a closer look, a very powerful crack to the 9 year bull market has happened. Here we are only 3 weeks later and market mood has changed to a very bullish emotional time. Many writers are saying that we are going to 3000+.... How many times have we seen that?
We see this recent activity as a retracement rally that will once again fool traders. The transfer of money from small traders to the big boys... same song, second verse...