Just cut through a ton of potential support areas. Hitting a few potential long term trend lines, and the 200W SMA. It has to bounce here, right? Please?
That's one heck of a drop though. Looking for a powerful but brief bounce before the selling continues.
We have to get a bounce sometime, right? Right?
Still a long way above the 200W SMA and very long term uptrend.
A few potential support areas on the way down. None of them seem very solid, maybe if we get back to 2010 levels.
Broke the recent accelerated uptrend (though not quite as parabolic as last time). Broke medium term trendline. I was really expecting to see us get closer to 300 before the big drop, but we got close. We're hitting the middle of the linear regression, which is about the only support I can see for miles. Braver men than me will short this straight to 250.
Coiled spring, or just dead money?
That triangle is getting mighty tiny. So is that volume.
It had actually broken through the former upper trendline Oct 15, and then just proceeded to follow it downwards. Not exactly encouraging.
While I think the ideas behind public ledger / transaction confirmation are kind of interesting and novel, it has always been a...
Just as idle speculation, I thought I'd plot out what it might look like if we really are headed for long term support in the 242 range.
I've been hearing several calls of a bottom here... that would be awesome, but all I see is repeated failures to even get back to the downward trend line. Fundamentals seem OK, presumably this could turn around at any time, but...
Gold just hasn't been able to find a bottom for weeks. Finally getting a bit of a bounce off the (very) long term trend line and getting into an upward channel here. Otherwise it's a very long way down.
Bitcoin approaching long term trend line and long term support around $5800. It should regain the long term pre-mania trend line, otherwise hold tight for sub-$5000.
The S&P 500 went parabolic out of an eight year channel, but only corrected back to the bottom of its steeper two year channel. On track for 300, but facing a potential correction back to at least 250? 212 or 157 if we finally get a full blown recession?
