So we are going to get a massive short squeeze instead, when everyone knows about the downside risk? :D
ChartArt
⋅
If we have a falling wedge pattern, odds would favor the bulls and explain the scenario above:
ChartArt
⋅
The S&P 500 needs to stay inside this uptrend channel though to breakout to the upside after completing the falling wedge pattern.
Otherwise the 1987 scenario is more likely,
davec83
⋅
@ChartArt, yes I see that, but eventually that pattern will break downwards. Based on what I'm seeing, I think that will happen sooner rather than later. Good charts thought! I appreciate your comments.
ChartArt
⋅
@davec83, I'm leaning bearish as well. I'm sharing these charts to stay objective.
ChartArt
⋅
Related idea of a bullish reversal scenario:
davec83
⋅
@ChartArt, yes of course, it could turn out to be a falling wedge pattern.
ChartArt
⋅
This could be in the future the reason, why the S&P 500 could rally even higher. If both the crash doesn't start in May-June 2018: