S+P 500 30 Min, Continuation Pattern.
Look at the way I have annotated this chart.
Your recognition of what is going on "inside this pattern"
will be your key to completely understanding where we are, as we approach the end of the year..
I had suggested in my previous article that the S+P 500
could "next" be breaking out about 3200 and that is exactly what happened on 12/19
Pattern Resistance, as I noted previously is now at 3210.
A move above 3210 before the end of the year could open the door to a.." melt up "
.
What better way to put the finishing touches on the "'complete capitulation" idea.
Trust me when I tell you this.
There will be very few, who will not want to be "fully invested" or long the market in 2020
Call option buying, or bullish bets on further price appreciation are at near historic levels of bullishness.
A very well respected Sentiment Indicator The CNN Fear Greed Index "is at a staggering "90 % "Greed""
The market is extremely overbought...... and staying there
Truly an amazing bull market,
the likes of which,have been rarely seen before.
I'll leave it to you, to draw your own "conclusions,
...on what might happen next.
SPX Last 3205.37
THE_UNWIND
12/20/19
MOUNTAINS ?NEW YORK
Look at the way I have annotated this chart.
Your recognition of what is going on "inside this pattern"
will be your key to completely understanding where we are, as we approach the end of the year..
I had suggested in my previous article that the S+P 500
could "next" be breaking out about 3200 and that is exactly what happened on 12/19
Pattern Resistance, as I noted previously is now at 3210.
A move above 3210 before the end of the year could open the door to a.." melt up "
.
What better way to put the finishing touches on the "'complete capitulation" idea.
Trust me when I tell you this.
There will be very few, who will not want to be "fully invested" or long the market in 2020
Call option buying, or bullish bets on further price appreciation are at near historic levels of bullishness.
A very well respected Sentiment Indicator The CNN Fear Greed Index "is at a staggering "90 % "Greed""
The market is extremely overbought...... and staying there
Truly an amazing bull market,
the likes of which,have been rarely seen before.
I'll leave it to you, to draw your own "conclusions,
...on what might happen next.
SPX Last 3205.37
THE_UNWIND
12/20/19
MOUNTAINS ?NEW YORK