The economy is “booming” yet unemployment and living costs have significantly risen. How long will the big 7 carry us until we see the turnaround into a bear market that has been in my sight since November 23’? It will reach for 430 levels within the next few months based on technical analysis. This retracement may take longer than a few months, depending on election factors that cannot be determined or factored into the equation at the moment. I am taking a bearish/consolidated outlook for the next few months as we cannot continue to ignore these highlighted historical indications. Enjoy the spike while it lasts, I intend to diversify into other foreign markets of sustainability at this time.
Note
We saw another price hike as the year started off bullish and watched this idea play out a little later than I expected. I should've correlated election timing with my analysis to determine this bearish state would occur closer to election time. I am learning so much haha I love this stuff!
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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.