S&P500 interesting noted pattern... end of the bull run
Since March 23, 2020, a massive bull run in the S&P500 and other equity markets had beholden the masses, shocked the institutional and professionals.
Thing is, I noted a particular pattern or two here, as in the chart. First, there is a confluence of a pitchfork channel resistance and the regular horizontal resistance that maybe strong enough to stop the waning bull run.
Speaking of which, if you follow the thick white faded lines, you see a tapering angle of rally from steep to less steep, to one that is flattening out in loss of momentum over time.
Furthermore, in recent times, of the last leg (of the white line) is a repeated pattern of waning momentum as shown by the faded yellow lines.
Technically, the MACD is due for a resistance level.
So, it appears as if this aging bull needs a huge jolt upwards else, it is already showing its age very apparently.
Note middle of August is the projected “bull slams into the wall and falls over” period.
Be aware!! Beware!!
Thing is, I noted a particular pattern or two here, as in the chart. First, there is a confluence of a pitchfork channel resistance and the regular horizontal resistance that maybe strong enough to stop the waning bull run.
Speaking of which, if you follow the thick white faded lines, you see a tapering angle of rally from steep to less steep, to one that is flattening out in loss of momentum over time.
Furthermore, in recent times, of the last leg (of the white line) is a repeated pattern of waning momentum as shown by the faded yellow lines.
Technically, the MACD is due for a resistance level.
So, it appears as if this aging bull needs a huge jolt upwards else, it is already showing its age very apparently.
Note middle of August is the projected “bull slams into the wall and falls over” period.
Be aware!! Beware!!
