Taking a look at the IT sector of the S&P 500, we can see a some-what bubble formation.
If you look back at the DotCom Bubble you will notice the same has developed ( High, High Low, High High) before tumbling down. Same as the Bitcoin Bubble. Now, going back to this chart it has currently formed that High, High Low and High High pattern exactly the same as the Dotcom and bitcoin bubbles did which leads me to believe, the IT industry crash is imminent.
As tech gets more reliable, there are more and more people who need to buy less of it as their current technological device is reliable enough. Slowing the growth of the market before eventually dropping off.
Any comments or criticism is welcome.
If you look back at the DotCom Bubble you will notice the same has developed ( High, High Low, High High) before tumbling down. Same as the Bitcoin Bubble. Now, going back to this chart it has currently formed that High, High Low and High High pattern exactly the same as the Dotcom and bitcoin bubbles did which leads me to believe, the IT industry crash is imminent.
As tech gets more reliable, there are more and more people who need to buy less of it as their current technological device is reliable enough. Slowing the growth of the market before eventually dropping off.
Any comments or criticism is welcome.