Interesting situation
With all the fundamental headwinds in the market these days, but still this market does not look like it wants to decline. BA.2 variant, Rising Interest Rates, Higher inflation, higher gas prices, Ukraine Invasion, risk of full out NATO conflict, China/Taiwan/U.S. tensions, super high public/federal debt, Housing bubble, Stock market bubble, sorry if I forgot anything. With all these negative variables in place. It seems as the more ugly it gets the higher the market goes. Should this not be the opposite? The more fear the more panic, the more selling? I believe the market is at a very decisive point, with the 50 and 200 ma cross on the daily. This could be indeed be a bull trap, currently reversing to continue the negative region again. Please pay attention to the 3851 level, as this will technically put the S&P 500 in a bear market classification. With the current trend line situation, I am expecting some sort of catalyst in the markets today or this week. I think I might hang on to the overall long-term bearish bias with my trades. I wish everyone on Trading View the best of luck in their decisions, Profits and their future endeavors. Thank you for everyone's input over the years. It has really helped to shape my learning curve in the technical analysis world.
Stay Safe!
Regards,
Darren
Stay Safe!
Regards,
Darren
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