S&P - bubble has popped
Dear reader, I am no expert (in fact I am a researcher in bioimaging),
but from my small experience in trading, there are obvious reasons to think that S&P500 and other market indicators are undergoing a bubble pop.
Following my previous raw analyses, I provide this detailed update.
Market exponentially increased past years, formed a Head & Shoulder (bearish) pattern, the parabola is broken, a descending triangle formed (bearish), failed to break out, we went one step below, pennant formed and broke downward again...
Another bad news is, there is no convincing support line below. next we are going down toward 2450. after that...
Like it or not this pattern is the very same pattern that we saw for Bitcoin! (which is, by the way, still going down after a 70% correction).
Some people are still hoping at this stage, for some breakout upward. But markets react according to a cycle.
It is the "complacency" (or I like to say "delusional stage") of the well known Wall Street Market Cycle chart. (google it if you don't know)
And sooner than you think it will go down very fast.
"Those who hesitate are left behind" said a famous trader called Peter (one of my mentor)
Not financial advice, just sharing my thoughts.
but from my small experience in trading, there are obvious reasons to think that S&P500 and other market indicators are undergoing a bubble pop.
Following my previous raw analyses, I provide this detailed update.
Market exponentially increased past years, formed a Head & Shoulder (bearish) pattern, the parabola is broken, a descending triangle formed (bearish), failed to break out, we went one step below, pennant formed and broke downward again...
Another bad news is, there is no convincing support line below. next we are going down toward 2450. after that...
Like it or not this pattern is the very same pattern that we saw for Bitcoin! (which is, by the way, still going down after a 70% correction).
Some people are still hoping at this stage, for some breakout upward. But markets react according to a cycle.
It is the "complacency" (or I like to say "delusional stage") of the well known Wall Street Market Cycle chart. (google it if you don't know)
And sooner than you think it will go down very fast.
"Those who hesitate are left behind" said a famous trader called Peter (one of my mentor)
Not financial advice, just sharing my thoughts.
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