I still think the most likely pattern is b-wave... and this is the bullish outcome. If this is wrong we are seeing what should have happened in September - completed sideways correction 4th wave and now the final 5th wave. No it is not just starting it is finishing just look the indicators and market breadth.
Good luck to those who bought break out from "bullish flag".
You have impulse in final stages. What could it be - the c-wave to complete bigger b-wave, the fifth wave of a bigger pattern, or i/5 of a bigger pattern.
The only bullish pattern is the last one.... for a few weeks longer, but looking at indicators market breadth and other indices this is not the most likely outcome.
If you think such b-wave is strange/rare/bullshit - just look at the previous two tops one more 10w cycle before the sell off begins.
This is if the b-wave is wrong - short said it is over... and with this wedges looks great. Ask the TA "expert" what happens with wedges.
Market Breadth - if it is the beginning the indicators and market breadth will reset and turn higher, but the opposite is happening - simple it is a top.
McClellan Oscillator
McClellan Summation Index
Weekly Stochastic of the Summation Index
Bullish Percentage
Percent of Stocks above MA50
Advance-Decline Issues
Fear Indicator VIX
So basically it's going to 8k like people have been telling you and now your finally letting us know it's a possibility? Geez thanks Nostradamus.
ReplyDeleteNo, it is not going to 8k.
Delete7860
DeleteKrasi, Market Breadth indicators are good add at this stage. Especially the stocl above 50MA. How have you interpreted the vix as bearish - its been dropping with rise of SPX
ReplyDeleteSPY has a bull flag , daily chart, if it goes to 7800, next to 8200
ReplyDeleteYes it does, it also has a perfect butterfly - 1hr. X-B=72bars bars and B-C=72bars. Rarely, have a sean butterfly this good. Perfect wood be 7819.
Deletebull flag broke higher, 7813 now. amazing. crash?
ReplyDeleteYou guys are sheep never 5000, 6000, 7000, really mean it now never 8000 for sp500
ReplyDeleteI still think the upper end 8k target will be hit. Then a new flag will form. Your wedge is off. We will make it to 8500 -9000 before a big drop. This probably isn't until 27.
ReplyDelete