Commentary and chart analysis featuring Elliott Wave Theory, classic TA, and frequent doses of sarcasm. Work published on Yahoo Finance, Nasdaq.com, Investing.com, RealClearMarkets, Minyanville, et al
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Friday, November 12, 2021
SPX Update
So far, no real change from last update. SPX did drop down to the noted lower trend line:
Nothing to add bigger picture:
In conclusion, not much to add to the past few updates... so far. Trade safe.
There is no pure technical chart that peeks into the future. Only think I can agree upon is that we are witnessing a blow off wave of some sort that has been building for a long while. All analysts and chartists will be fooled on the upside potential. IF we recover from this round of disastrous inflation news the rockets are powering up for another blast off. Holiday season, drink up!
Great charts.
ReplyDeleteThere is no pure technical chart that peeks into the future. Only think I can agree upon is that we are witnessing a blow off wave of some sort that has been building for a long while. All analysts and chartists will be fooled on the upside potential. IF we recover from this round of disastrous inflation news the rockets are powering up for another blast off. Holiday season, drink up!
ReplyDeleteYou clearly haven't ever read my work. For the past 10 years, I've mainly predicted further UPSIDE. Weirdo.
ReplyDelete