M TOP monthly on SP500 minus INFLATION
M top on SP500 confirmed on monthly timeframe when removing M2 (monetary inflation).
Previously happened during dot.com and subprime.
Localisation - at neckline and major resistance.
Momentum - Divergence on MACD & RSI, MACD cross 0 tb confirmed at march closing - MA cross usually happens after retest of neckline (tb monitored)
Structure - M TOP confirmed
Overall that's a really good short set up - which makes me think this is a bit scary here.
Not an investment advice but hedging here is really not a bad move. Trade carefully.
Previously happened during dot.com and subprime.
Localisation - at neckline and major resistance.
Momentum - Divergence on MACD & RSI, MACD cross 0 tb confirmed at march closing - MA cross usually happens after retest of neckline (tb monitored)
Structure - M TOP confirmed
Overall that's a really good short set up - which makes me think this is a bit scary here.
Not an investment advice but hedging here is really not a bad move. Trade carefully.
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