Short

The S&P Is just too Bullish

Updated

Prices have overshot my trend channel, leading to an overbuying in equities. According to trend line rules, when we have an overshoot of the trend channel, expect prices to break out the bottom of the trend. This correction could take 1 to 2 weeks.

Note

Still pushing higher as of mid day Monday, wowzers.

Note

Ok, the real pull back is happening now. The question in your mind should be, is this going to be just a correction (2 legs down), or a reversal (testing the lows again).

I'll be tracking this over the next few days.

Stay tuned

Note

And the overshoot has now completed. Let's see where we go from here.

🤙🏽

mo_diggity

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