5/17/19 8:40 AM CST Update:
It looks like our short term top is in so I went ahead and updated the chart to show what the possible pullback levels are. I’m also adding a chart from the Spring of 2013, which is looking more and more similar to the Spring of 2019.
Note that in 2013 we had a massive 3 month Spring rally that led us to overbought conditions and the MFI going above 95 on the weekly. It was followed by a massive 1 week selloff, slight recovery, and then continued downward movement until the correction reached 75%. The total correction lasted 13-14 weeks.
I’m not making predictions but rather just presenting the facts and analysis on what has happened in the past.
Weekly Current:
Weekly 2013:
See my original post on May 11th.
It looks like our short term top is in so I went ahead and updated the chart to show what the possible pullback levels are. I’m also adding a chart from the Spring of 2013, which is looking more and more similar to the Spring of 2019.
Note that in 2013 we had a massive 3 month Spring rally that led us to overbought conditions and the MFI going above 95 on the weekly. It was followed by a massive 1 week selloff, slight recovery, and then continued downward movement until the correction reached 75%. The total correction lasted 13-14 weeks.
I’m not making predictions but rather just presenting the facts and analysis on what has happened in the past.
Weekly Current:
Weekly 2013:
See my original post on May 11th.
Nota
YouTube videoyoutu.be/CDzQAPdsj5w
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.