This is just my opinion.
Prices - all time highs barely getting exceeded.
RSI high (67+ , never goes beyond 70ish unless MAJOR selloff which is even better).
Fisher flipping to bearish.
MACD bearish.
Fractal is from last major selloff which lines up with support levels.
The banks are more likely to selloff before January (when employees can withdraw 401K).
Does anyone think the average working taxpayer is buying SPY, QQQ, or SMH at all time highs going into Christmas followed by a Presidential election?
I do not.
SPY, QQQ, and SMH all have ascending wedges which end the same time, with repeating patterns. Ascending wedge for 6+ years then selloff 30%+.
Prices - all time highs barely getting exceeded.
RSI high (67+ , never goes beyond 70ish unless MAJOR selloff which is even better).
Fisher flipping to bearish.
MACD bearish.
Fractal is from last major selloff which lines up with support levels.
The banks are more likely to selloff before January (when employees can withdraw 401K).
Does anyone think the average working taxpayer is buying SPY, QQQ, or SMH at all time highs going into Christmas followed by a Presidential election?
I do not.
SPY, QQQ, and SMH all have ascending wedges which end the same time, with repeating patterns. Ascending wedge for 6+ years then selloff 30%+.