As noted in my previous post, many people are comparing the current correction to 2018 while indicating that a much larger move down is yet to come. My research indicates that the large move, aka- waterfall move- has already bottomed and we are now coming out of the correction. Note in particular the current 200ma is currenly in an uptrend. Also note the bottom wicks indicating buying pressure. If my theory is correct and since the majority consensus is bearish, I'm prediciting a significant rally in spy. Stay tuned for my interesting observations on VIX which supports my theory.....
Comment:
Clearly I've incurred the ire of some who don't agree with my analysis. Isn't this a place where we share our research and opinions? If there are superior gurus who are always right please point them out to me so I can follow and get rich. In all seriousness, this is a place to learn and we should be willing to learn something from everyone. Cheers.
Comment:
Nice close today above the 20ma, RSI neutral and showing signs of a bullish divergence.