Let’s get this #MCM_CHARTSTORM started.
There are a lot of charts. Will be updating the thread into tomorrow, so if you want to see the whole thing it will not be complete till tomorrow - keep checking back.
Will also prepare a THREADVIEWER version
Let’s start with $SPX
People who have followed Advance/Decline & especially Cumulative A/D were all looking for big divergences and Advancing Volume vs Declining Volume Divergences that did not happen because the number of stocks in the markets is down 40% in 20 years and floats by more /2
What about the BIG picture? This is possible and might also suggest a bit more persistence by buyers attempting to revive the bullish new ALL TIME HIGHS vigor. So, a very large Head and Shoulders top could develop on majors $SPX $SPY #SPY $INDU
Keep in mind on both of these HS scenario charts - we were careful to not estimate price symmetry & time symmetry btw the left & right shoulders - which is something important in HS patterns. FWIW, in very bearish scenarios the right shoulder CAN truncate both time & price
$CPCE Equity Put/Call ratios have been testing a bullish setup (implication bearish for markets) consistently over the last months since October. This is something to keep an eye on as if this holds then seems like another panic could be approaching as a reaction #SPX $SPX
Very low $ARMS Index readings used to trigger at the beginnings of rallies in a bull market but in bear markets they tend to occur near tops $SPX #SPX
The @federalreserve, rates, MP (monetary policy) and markets...this paints a rather disturbing picture imo and implies markets will find reality far more disappointing than hope - so, will likely be unsustained $SPX
In Sept we were pounding the table for a major bull turn for $UST when everyone was pounding the table on $UST bear market...this bull market in #UST imo will continue into 2021 sometime
Just a reminder of the incredibly thin (not broad) the $NASD #NASDAQ rally has been since 1990’s
Have a great trading week ahead