This is intended to be a forum for me to post chart ideas and hopefully receive feedback and stimulate discussion.It is not intended to constitute investment advice.
It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning. Henry Ford
Thanks but I honestly have no idea what is going on here anymore ...LOL !
Well, at least you're honest!! I wouldn't be surprised to see a drop back to 1600 at some point (not calling for it, just wouldn't be surprised to see it).As for doom and gloom epic crash, meh, it seems like there is still way too much negative sentiment around. People are still fixated on the last crashes and convinced that any day now THE top will be in meanwhile they're busy missing all the gains. Canada's TSX still hasn't exceed it pre-crisis highs like the SP500, the Nasdaq it still below 2000 highs so I think there is still much rallying to go in the markets, unless the SP500 is going to spectacularly crash on its own, which I doubt.
I suspect if there is a crash it will start in Europe,where rising social and economic tensions cannot be ignored much longer,or in Japan.Meanwhile I prefer to play the shorter term setups based on the reversals bars (see SPY chart above)