I think I've found the channel we're currently in and it looks like we're building a wedge down, which always breaks up. The question then is, how far this last leg will be, before we crash.
Komen:
After it went to test the 202x area, its clearly in bull mode and even left the descending channel. The next interesting trendline is the yellow one around ~2084.
I currently feel certain that the spx500 hasn't already committed for more downside, after it marked the ~2025 area. The reason for this, is the pattern we saw afterwards, it didn't just went up to mark the top.. It was in the middle of the channel for some time and ranging.
So I'm looking forward to a break of the ~2084 to the upside, followed by more bullishness.
The big short will follow, when no one expects it...
Penafian
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I currently feel certain that the spx500 hasn't already committed for more downside, after it marked the ~2025 area. The reason for this, is the pattern we saw afterwards, it didn't just went up to mark the top.. It was in the middle of the channel for some time and ranging.
So I'm looking forward to a break of the ~2084 to the upside, followed by more bullishness.
The big short will follow, when no one expects it...