Here is another updated look at my S&P 500 analysis. Here on the weekly chart, we can see that the general story remains the same. Despite the sharp recovery that we've seen in the stock market, it is behaving EXACTLY as anticipated. In fact, if you look at my S&P 500 analysis from the lows of the coronavirus breakdown, you can see that I called for this upside move by showing that the S&P is in the process of forming a massive head and shoulders pattern at the top of the chart. Additionally, that head and shoulders pattern could be the head (H) of an even larger head and shoulders pattern, which is also shown on the chart (LS, H, RS.)
It's no secret that the world is in a full blown recession right now, and it's just getting started. Stocks are ridiculously overpriced, and I think we are absolutely on the brink of an epic meltdown in the equity markets. The chart says it all.
I'm The Master of The Charts, The Professor, The Legend, The King, and I go by the name of Magic! Au revoir.
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
-JD-
It's no secret that the world is in a full blown recession right now, and it's just getting started. Stocks are ridiculously overpriced, and I think we are absolutely on the brink of an epic meltdown in the equity markets. The chart says it all.
I'm The Master of The Charts, The Professor, The Legend, The King, and I go by the name of Magic! Au revoir.
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
-JD-