This is what I see for the short term on the .$S&P 500(.SPX)$*Note, this is the CASH, not the futures.The inverse H&S pattern has been confirmed.I'm thinking we are going to do a pullback to the neckline before seeing a bounce/push higher towards 3955 before 4070...#trading #investing #technicalanalysis #index@TigerStars
So, a lot has already been said about the stock markets entering bear territory. Not here to talk about how far the market could possibly drop. But at the same time, yours truly would like to share what I think what we could very well see happen...The funny thing with the markets is that, like humans, it has a fairly good memory of what happened in the past. However, it does not remember EXACTLY what happened, detail for detail. We remember recent events with better clarity as compared to events far in the past. Legendary Howard Marks puts it succinctly as "The events of investment history don't repeat, but familiar themes do recur, especially behavioural themes." Below, I share the chart of the S&P 500 index (cash), monthly, in log scale just so we can see the price action back in 196
As mentioned, we're seeing a cautious Rally in the markets!
As mentioned in my preivous post, we are seeing a cautious rally..For the time being at least till the end of this week, we could possibly see a healthy pullback towards the 3980 level.After that, possibly see a re-newed bounce. https://www.tradingview.com/x/Re9ths1C/ #trading #investing #technicalanalysis
Who here thinks that this is more of a cautious rally as compared to a full on multi-year recovery? #markets #stocks #indices #trading #investing #technicalanalysis