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Distant and Not-So-Distant Cousins
S&P 500 Index
Short
Distant and Not-So-Distant Cousins
By Heartbeat_Trading
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Updated
May 7
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Jun 20, 2023
Everywhere I look I'm seeing talk of a "new bull market"
But I don't think this is a new bull market
I think we are getting a visit from a distant relative: Ole' Cousin Bear Market Rally
Why do I think this?
Well, typical of "family", the members within share common attributes
In the next post we will talk about what some of those common attributes are in detail
https://www.tradingview.com/x/7vmABrxD/
Jun 20, 2023
Note
Apr 22
Note
Near term expectations
Apr 29
Note
Lets see how this plays out
May 2
Note
Market generally progressing as expected.
Its possible all of Wave (C) is complete but the market appears to still want to rally a bit
Lets see
May 2
Note
Zooming out a bit to better see the move we are tracking
May 4
Note
Ok its pretty clear to us where price is most likely headed
Slightly tweaked the count.
May 5
Note
CRITICAL MARKET SUPPORT AREAS
The market appears to be setting up for a significant downturn
We are expecting that downturn to begin by the end of this week/ early next week
This could be really ugly
PLEASE TAKE CAUTION
May 6
Note
CRASH ALERT!!!
BE CAREFUL!!!
May 6
Note
One last push higher and we should see price fall off a cliff
May 6
Note
IWM about to go down in flames!!!
May 6
Note
Ok we are in the target crash zone.
We are on high alert for a significant downturn...i certainly hope we are wrong because this going to be UGLY
Expect one more smaller push higher and then watch out below
May 7
Note
Price pushed higher as expected.
BE CAREFUL!
May 7
Note
Get Ready
Chart Patterns
Trend Analysis
Wave Analysis
Heartbeat_Trading
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