I now expect a pump past the old $20K ATH, but stalling out around $25K. This will suck in a lot of new players who will buy around $25K. Then I suspect a hefty correction with a fair amount of panic selling afterwards.
I like to do these from time to time for fun. I think we could see something like this long term, basically several big swings forming a widening cone.
This will probably allow extracting the most money from anxious market participants. I don't really foresee a 70%-80% style crash and depression anymore as I used to.
I think times have changed. Infinite money...
Looks like a setup for nasty bear market, some ideas for targets. This dead cat bounce or bear market rally is to try and get the general public to buy back into stocks. They'll ultimately end up buying high and selling low.
Chart is pretty self explanatory, this recent bounce is merely a retracement to test levels lost based on trend analysis accelerated by various news. Big target around 2540, super easy stop loss (new all time highs), no brainer trade. Don't risk the farm on this, it's merely what is likely to happen.
Consider selling off your longer term investments should this start to play out. Note that the time horizon is not to scale, this would play out much faster than drawn.
