SPX seems to do megaphone extensions over and over again:
s3.tradingview.com/snapshots/m/MFg39PJ4.png
s3.tradingview.com/snapshots/n/nsug7ukG.png
s3.tradingview.com/snapshots/l/lWHJQroN.png
The million dollar question is will the last bounce turn into yet another extension or is this the end of the road for SPX.
Looking at Russell, where the pattern is complete! I'd guess it is the end of SPX too.
Where is the bottom, how this super-cycle end plays out I can only guess.
s3.tradingview.com/snapshots/m/MFg39PJ4.png
s3.tradingview.com/snapshots/n/nsug7ukG.png
s3.tradingview.com/snapshots/l/lWHJQroN.png
The million dollar question is will the last bounce turn into yet another extension or is this the end of the road for SPX.
Looking at Russell, where the pattern is complete! I'd guess it is the end of SPX too.
Where is the bottom, how this super-cycle end plays out I can only guess.
Note
Revisiting DIA & IWM charts, it is likely I got the bounce wrong!The top maybe already behind us and the bounce maybe much smaller.
gap will probably be filled.
s3.tradingview.com/snapshots/b/BtjEwbJS.png
If you are one step ahead of the crowd you are a "genius" and you make money off the crowd, if you are two steps ahead you are a lunatic and you lose money not being able to sync with the crowd, if you are three steps ahead - better find a new planet :)
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.
If you are one step ahead of the crowd you are a "genius" and you make money off the crowd, if you are two steps ahead you are a lunatic and you lose money not being able to sync with the crowd, if you are three steps ahead - better find a new planet :)
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.