I believe VOO (S&P500) is out of the Uptrend (Daily TF) it has maintained since the Feb 2020 Crash for the following reasons:
1. Broke ~1 year trend line (Yellow trend line)
2. Broke under previous HL on Daily (orange region ~$401)
3. Failed to make HH on Daily (above green region ~$417),
4. Failed to make it back into uptrend channel
5. Rejected by 50MA and...
From a 15 min timeframe perspective.
Kind of bullish to me for the next week.
We'll still need to validate that new support line as a rock solid one.
We still need to be carfull of the gaps that popped at the beggining of the April run.
Thanks for you support and feel free to comment your ideas.
Just something I noticed today. Drew up what look like to be the key trend lines for the rallies over the last few years. I also noticed that each rally had a similar wave pattern throughout the middle (12345), a long almost pull back free middle, and then a WXZ with 1.5 fib ext at the end. Now, it is still too early to know if that pattern will hold now, but...
After a nice bull run, some were taking profits today. We started the day with heavy selling, some shares were bought back later in the day. The market hit the resistance and we might see some weakness until friday.
Or a rebound ! Who knows :')
$VOo -LOOK AT THIS CHART. WOULD YOU JUST LOOK AT IT!
Im posting VOO because it is one of my favorite long term investment holds. Every portfolio should have some Vanguard funds in it, and especially should have the VOO . But look at this. Look at the dip and rip from March 2020. Its now up almost 80%. And it will be up 80% soon.
Don't freak out because of a...
Waves based on fib levels. I am assuming that we are in a Wave 3 showing an impulse with extension. Could push from 1.618 to the 1.7 level to end wave 3. I hope that we will see a correction for wave 4, but wave 4's are usually less then 38.2%. If so then we still have a solid wave 5 to go. Guessing at a standard 2.0 extension to wave 5. I also see a clear channel...
VT (total world stock index) has not been this strong against VOO (S&P) in a very long time.
I would not be surprised at all to see this trend continue. $EEM is ripping, and even Europe and Japan are getting a bid.