S&P 500 (SPX)
Last idea was a failure!!!
Difficult for becoming a bull. A hard time for the bears (meaning when bears become bulls), that's when it's becoming dangerous.
So on the bigger picture, the SPX went through the FIB 61.8°(4310) like a knife through butter. So that means it's not bearish. yes it's bullish!!! Only question is till when?
On the Montly chart i took a measurement of the falling wedge (red vertical line), it brings us to the potential target around 4824 (meaning a double top), maybe a bit further.
Also then there's a bearish divergence ( blue and red dashed line)
One thing to keep in mind is the DXY. Yes it's weak but don't forget the fib 61.8°(around 99.50°), you can see that on my previous idea from the DXY. IF it's loosing that FIB, it's over for the dollar. means fully bullish for the markets!!!
So are we headed for a double top? going a bit further and making an new ATH?
Creating a BIG M pattern ?
I believe so but i'm a permabear for now:-)
Difficult for becoming a bull. A hard time for the bears (meaning when bears become bulls), that's when it's becoming dangerous.
So on the bigger picture, the SPX went through the FIB 61.8°(4310) like a knife through butter. So that means it's not bearish. yes it's bullish!!! Only question is till when?
On the Montly chart i took a measurement of the falling wedge (red vertical line), it brings us to the potential target around 4824 (meaning a double top), maybe a bit further.
Also then there's a bearish divergence ( blue and red dashed line)
One thing to keep in mind is the DXY. Yes it's weak but don't forget the fib 61.8°(around 99.50°), you can see that on my previous idea from the DXY. IF it's loosing that FIB, it's over for the dollar. means fully bullish for the markets!!!
So are we headed for a double top? going a bit further and making an new ATH?
Creating a BIG M pattern ?
I believe so but i'm a permabear for now:-)
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