Greetings everyone. Check out my chart comparison of the period just prior to the stock market meltdown (on bottom) to where we are now here in 2022. Looks awfully similar to me. All kind of voices screaming don't fight the FED this decade plus long bull market. Now with the FED raising interest rates leading to demand destruction with the intent of...
Price broke the support again. We are early in the week but looking to cover the previous wick and possibly head lower. Given that a war is going on now, and not simply an economic crash, we may not even get a second pull back (people buying the dips). Expecting to clear the previous candle wick, to 32,300, and we'll see how market reacts from there.
Thought I'd take a look at the similarities/differences between price action now and in 2008. Obviously, it's the movement over two different windows of time (the '08 chart is over a much longer amount of time than the '22 chart). Found a couple similarities. Lol. Past doesn't indicate the future, obviously. But I thought it was interesting enough to share.
Could we see SPY repeat itself in the coming months? Near identical daily gain/loss patterns between now and just before the financial crisis crash. This would set the scene almost perfectly for SPY's inevitable run to 500 before a complete potential collapse.
always good to contradict ourselves for perspective sake. this is a a possible bear case scenario if the capital S really hits the fan with the coming eviction news and corona variants mixed in with more lockdowns or other new black swan. the govt is low on dry powder for stimulus and protections. many of you might agree the downtrend is overdue. this is all for...
The POC support is already breached and there seems to be no signs of reversal near the second support, The seeling volumes have just gone higher in the smaller TFs. Only a major positive news can bring the price back up.
Plotted fib retracement connecting the lows of 2008 and 2020 highs to derive long term supports of NIFTY50 Prices holds the 8550 Fib support in Feb 2020 and also in march 2020, though these levels were breached on weekly and daily charts, but monthly closing comes above 8550 levels any monthly closing below this level can lead to severe fall in the index and the...