just an update to see how things are playing out from my previous chart
I like to put things into perspective sometimes, but this looks like a cup and handle to me, if that's right and we are at the end of the cup and handle this should spring up to post COVID highs, thoughts? this has been developing since the boom before the great recession
resistance rejection occurring we may see some big red days on spy, dow etc starting soon
inverse bearish cup and handle forming ?
This is a short term update of my early day charts, I think any SP500 rally from here will be capped by 3925 with a fall towards 3800. This is a short term look, from 3800 we may have some roll reversed resistance tests but ultimately this wave down I believe will go to the 3450-3550 zone.
1999 tech bubble high, roll reversal, not resistance, if we break below 3.1-3.2 imo this is a bearish signal
will we break out of the firmament ? probably not
here comes the SMA cross, my blue lines were drawn last week if you look at previous analysis
imminent drop to 3500 zone then last fakeout rally 2021-2022 before big bubble bursting, the fakeout late 2021 rally will probably be fueled by a forced treasury rate reduction, forced by the markets on first rally, plus hitting resistance, but eitherway this is what i thinks happening over the next 1-1.5 years
Once this zone is broken, correction mode
NDX Possible beginning of long term w5? NDX/SP500 RATIO topped off at the same level it did before the tech bubble bursting. what's this mean? Well the NASDAQ 100 is overweighted to industry top performers, tech, healthcare, consumers, etc...as opposed to the SP500 that's more dispersed. So in the NDX/SP Ratio, it would make sense that as the ratio tops off, the...
thoughts?