looks like the monthly chart has gone into a higher tighter channel which generally means some, or a lot, more upside
S & P
- Thread starter padutrader
- Start date
padu you disappoint me lol... you are a great reader of the market. but..
you don't really need a 'channel' to see this?
also if you use log instead of linear scale it's still just a smooth rise.
100% of the drops on your graph are preceded by a "higher, tighter channel"...
Post-hoc predictions....
If only reality was that flexible.
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Tight channel with no new highs is literally my short signal. lol
100% of the drops on your graph are preceded by a "higher, tighter channel"...
not by a tighter higher channel.
by overextension.
and just overextension, does not mean it is going to reverse ,even for a correction. you need some good selling and that is not in evidence on monthly charts or even on daily charts
just because a market goes up does not mean it is overextended......it is the manner it goes up, that makes it over extended or not. a market can be over extended after 5% or it may not be overextended after 2000%
you must understand the difference.
and I am talking longer term trends not your novice elite trader scalping opportunities.
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you need a selling signal and none is present.
you can short anywhere …..I am not talking about trading opportunities
and it is making new highs on monthly
On all time frames up to daily.
I am used to normal charts
but acceleration is not bad.
it is a short squeeze and we are probably taking off.
I only see denial here and that is perfect for a huge fast rise
I am only seeing daily and above
PMI came in with a terrible reading. Macro is changing?
What do you think drives the daily candles?
Short term, doesn't look great.
What do you think drives the daily candles?
Short term, doesn't look great.