Drop in S&P 500 building up - 1929 guides
S&P lost steam and showed instability (August 11th), lower volumes and quite some swings when approaching ATH (last 9 days)
Comparing with 1929 (by matching March 2020 low with 1929 low), the same pattern is repeating.
Now there is quite a divergence between S&P 500 and CCI (good indicator of past drops when diverging with S&P500) confirming that a first drop is coming. Looking at 1929 it will be a matter of a few days.
Stay tuned!
Comparing with 1929 (by matching March 2020 low with 1929 low), the same pattern is repeating.
Now there is quite a divergence between S&P 500 and CCI (good indicator of past drops when diverging with S&P500) confirming that a first drop is coming. Looking at 1929 it will be a matter of a few days.
Stay tuned!
Note
Here we go! Some drop taking shape here...downward divergence doing its jobHappy trading!
Note
EUR/USD also dropped quite sharply and now still weak
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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.
Related publications
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.