TVC:SPX的Distant and Not-So-Distant Cousins由Heartbeat_Trading提供

Distant and Not-So-Distant Cousins

Everywhere I look I'm seeing talk of a "new bull market"

But I don't think this is a new bull market

I think we are getting a visit from a distant relative: Ole' Cousin Bear Market Rally

Why do I think this?

Well, typical of "family", the members within share common attributes

In the next post we will talk about what some of those common attributes are in detail

https://www.tradingview.com/x/7vmABrxD/

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Near term expectations

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Lets see how this plays out

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Market generally progressing as expected.

Its possible all of Wave (C) is complete but the market appears to still want to rally a bit

Lets see

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Zooming out a bit to better see the move we are tracking

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Ok its pretty clear to us where price is most likely headed

Slightly tweaked the count.

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CRITICAL MARKET SUPPORT AREAS

The market appears to be setting up for a significant downturn

We are expecting that downturn to begin by the end of this week/ early next week

This could be really ugly

PLEASE TAKE CAUTION

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CRASH ALERT!!!

BE CAREFUL!!!

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One last push higher and we should see price fall off a cliff

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IWM about to go down in flames!!!

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Ok we are in the target crash zone.

We are on high alert for a significant downturn...i certainly hope we are wrong because this going to be UGLY

Expect one more smaller push higher and then watch out below