🔥 Markets At The Edge Of Capitulation: The Last Bounce
Over the last couple of days we've seen an impressive bounce taking place in both the crypto and stock markets. Interestingly enough, this bounce took place at around the same location where the last bounce before capitulation took place in 2008: right after making a new lower-low.
In my view, it's very possible that the SP500 will follow the same move as in 2008 because it has been following it very closely so far. I'm just waiting to see where the current bounce will get us. A move above the most recent top would invalidate this fractal. Whether this idea will play out remains to be seen, at the very least we need to make a new low and see some kind of huge sell-off after.
For illustrational purposes I've refitted the 2008 fractal to better fit the current market.
In my view, it's very possible that the SP500 will follow the same move as in 2008 because it has been following it very closely so far. I'm just waiting to see where the current bounce will get us. A move above the most recent top would invalidate this fractal. Whether this idea will play out remains to be seen, at the very least we need to make a new low and see some kind of huge sell-off after.
For illustrational purposes I've refitted the 2008 fractal to better fit the current market.
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