No question stocks are in the euphoria phase for months now. I'm quite sure the last few days' correction was the final correction before we enter the Bitcoin-like-vertical phase.
During the European night we tagged the 200 SMA on the daily chart and bounced powerfully from that level. If I'm right we are going to see something we can see in every 20 years. Imagine Bitcoin and double the gains. We have serious companies, technologies and knowledge behind these indices.
I'm calling for SPX500USD 3500-4000 before the end of this year.
I don't want to waste your time, just launch this idea right at market open.
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S&P is even better. Bouncing hard from the 200 SMA.
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At the previous corrections price needed to break below the 200 SMA
Arpi,Quation is if hear is a HS,can pullback to blueline before fully complate HS?
chartwatchers
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@Josef2016, I don't like when the neckline is not horizontal. Viking is also waiting for the tag of 2400 under the NASDAQ new beginning post.
I think the bottom is in.
@chartwatchers,Thanks Arpi,I need non-horisontel HS to find where it will be pullback.In alltimhigh situation we don´t have resistans or support likes which help oss to find pullback or rekyl point.With yelow lines help seems that bottom is in.
Josef2016
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@chartwatchers, isn’t a HS here?I don’t meen that will copmleate this HS,but it will retract minimum somtime when tuch the nakeline.
Sending again with lite correction.
Josef2016
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Best Arpi, What you think about this.
DavidCamalhao
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@arpi besides the facts that i mentioned. A rally to 3500 from here is an upside of 40% from where we are. It is 2x the rally of 2017. How is it possible? I think you should explain better that idea. Than you
chartwatchers
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@DavidCamalhao, Bitcoin rallied from 3000 to 20.000 in 93 days.
I think we are the red arrow now.
I could have said Nasdaq is going to 12-13.000 but I knew many will not even believe a 40% bounce.
DavidCamalhao
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@chartwatchers, but why are you establishing a relatiom between S&P and bitcoin?!
chartwatchers
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@DavidCamalhao, Because Bitcoin formed a bubble and popped.
Stocks are forming a bubble too. Why?
Ask the central banks leaders : they printed a hell of a lot of money . It's landing in the stock market...