S&P 500 - Clear head and shoulders pattern on the 1 hour.
The markets have had a rough end of the year. The S&P 500 has printed a pretty clear head and shoulders pattern. Is this a fake out, or will it break to the down side?
I don't see anything different now than a few weeks ago, so can we mark it up to end of the year tax covering and profit taking? Or is there something more severe going on? A rate cut and Trump taking office should be a boon to the markets, unless we have a black swan event in the near future that the insider know about and we don't.
Bird flu? War with Russia? Debt ceiling? Some other unknown event? Maybe its all just noise. The charts "never" lie though.
I don't see anything different now than a few weeks ago, so can we mark it up to end of the year tax covering and profit taking? Or is there something more severe going on? A rate cut and Trump taking office should be a boon to the markets, unless we have a black swan event in the near future that the insider know about and we don't.
Bird flu? War with Russia? Debt ceiling? Some other unknown event? Maybe its all just noise. The charts "never" lie though.
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