Shaping forces of this rally ended on August 11th, in close similarity to 1929 Evidence of this: 1. Peak in VIX on August 11th 2. Bearish divergence SPX vs CCI that followed right after, reflecting on VIX (future S&P prices) rather than actual S&P prices, wich underwent a short squeeze 3. Second peak on VIX last week (and today)
Don't be fooled by the short squeeze in between in S&P prices. Although painful for the bears, this is mainly the result of Apple and Tesla fractioning their stock price.
All is aligned for the world of pain coming real: 1. Psycology (end of FOMO) in close similarity to 1929 2. Bearish Divergence which is causing spikes in VIX (approaching 25 vs 13-15 before March crash!) 3. The market will start dumping Apple and Tesla and related tech stocks (the entire technology sector is now worth MORE than the whole European stock market!! What about that!!?)
First check point at the end of this week We will be around 3000 by the end of september - fear will take over and then it will only be about psciology and Fear Of Mess Out, which will soon be FOMO 2.0
"And proud we are of all of them"
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In VIX we trust...update the chart please In the meanwhile FAANG are taking the last luxury party ....