Good day folks,
It appears that there is a Head & Shoulder in the making for SPX. If this is the case, it means that we have only a few months left before selling accelerate. Most likely to start next spring imo.
Look at the volume; since 2016 it is decreasing and has decreased drastically since the beginning of 2018. I think that this suggests that there is not much new money coming in so that we are most likely at the end of the accumulation cycle.
The government needs cash to sell its bonds, so bringing the stock market higher, forming a right shoulder, make sense.
I think 2016 high and low will provide support for some time, but ultimately wont hold.
Feel free to comment.
Thank you,
It appears that there is a Head & Shoulder in the making for SPX. If this is the case, it means that we have only a few months left before selling accelerate. Most likely to start next spring imo.
Look at the volume; since 2016 it is decreasing and has decreased drastically since the beginning of 2018. I think that this suggests that there is not much new money coming in so that we are most likely at the end of the accumulation cycle.
The government needs cash to sell its bonds, so bringing the stock market higher, forming a right shoulder, make sense.
I think 2016 high and low will provide support for some time, but ultimately wont hold.
Feel free to comment.
Thank you,
