Now, I know this may seem a bit out there, but I think 9500 is completely plausible. I have no idea what percentage likelihood it is. Let's just say 10-20%. I have no idea what the catalyst will be, maybe there will not be one. Bubbles don't need a big reason to pop, just a "needle prick." If a panic in tech starts, then it is going to be hard to stop it given how overbought it is.
Enjoy
- RSI is not even close to being oversold yet. So much farther down to go. In addition, note that in all rally ending corrections the corrective wave makes a double bounce in the over sold. We are not even close to that.
- The support line in the RSI was broken on Sept 3rd. That indicates the bull run is over.
- RSI trend lines starting to line up just like in 2019
- MACD approaching zero with the a "double hump" in the error signal clearly feasible
- Since Sept 3 it has stayed in a possible down channel.
- That down channel has the same slope as March (I did not plan that, I noticed that afterwards)
- Reverting to the mean requires a plausible 1.414 fib extension
Enjoy
