Just using the past bar pattern data to line up with the current data and it would seem as if the Short Sell scenario will have a good chance at unfolding. I am currently Short at 3927.50 with my stop above at 4080. Time Stamped on 12/06/2022.
According to this data, I will be 115 points under water. What got me in was the failed bounce off of the 21 ema alongside the strong bear candle closing below the 21 ema as the bounce flopped over. I still hold with conviction that ES still has room to 3200, it is just the matter at properly timing the entry is what is the difficult part. That, and holding on plus adding to, the position for 60 days.
This Bear Market is eerily similar to the 2000 dot com bear market. If so, then I would expect ES to fall to the low 2000's
The 2000 dot com crash looks very similar to what is happening now.
Here is the weekly chart of 2022 bear market and how I believe it will reach 2750 as the bottom
Here is how the 2000 bear market and the 2022 bear market are almost identical twins in their behavior. Nothing is 100% but I believe ES is headed for 2750 as the bottom.
According to this data, I will be 115 points under water. What got me in was the failed bounce off of the 21 ema alongside the strong bear candle closing below the 21 ema as the bounce flopped over. I still hold with conviction that ES still has room to 3200, it is just the matter at properly timing the entry is what is the difficult part. That, and holding on plus adding to, the position for 60 days.
This Bear Market is eerily similar to the 2000 dot com bear market. If so, then I would expect ES to fall to the low 2000's
The 2000 dot com crash looks very similar to what is happening now.
Here is the weekly chart of 2022 bear market and how I believe it will reach 2750 as the bottom
Here is how the 2000 bear market and the 2022 bear market are almost identical twins in their behavior. Nothing is 100% but I believe ES is headed for 2750 as the bottom.
Note
The link below is my original idea, this is for the additional chart information. I firmly believe that this bear market is playing out exactly as the 2000 dot com bear market and the bottom for the ES could potentially be 2750. Buying SPY at 275 a share and riding it back up to 500 will be a nice gain if this scenario should play out.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.