Let me repeat that.... a 10% drop in the s&p 500 would place it just around 493-494, last time the s&p was trading that level was not 7 yrs ago or 4 yrs ago....not a couple of years ago or a year ago, but just in April of 2024 or less than 2 months ago. Do you have any idea what it would feel like if tomorrow the markets started selling off and ended down 10% in a month or 2..... People would go absolutely crazy, they would start liquidating their portfolios and decrease contributions across all retirement accounts and most likely close out some trading accounts as well knowing the market is just unbearable to even look at......the most wild part of tbis entire scenario is that the decline would only bring us back to lows only set 2 short months ago. Now that is is quite intriguing.......
I rephrased it. I changed the mindset from a problematic viewpoint to opportunistic viewpoint. When you look for problems, your lives will be full of misery. When you look for opportunities, your lives will be full of joy. As long as you have a negative mindset, you can never ever earn $$$$. Do note that traders press BUY first on the uptrend, and press SELL sell on the downtrend. ------------------------------------- A 10% drop in the S&p to April 2024 lows would literally create millions of millionaires !!!!! Do you have any idea what it would feel like if tomorrow the markets started selling off and ended down 10% in a month or 2..... People would go absolutely elated! They would start increase contributions across all retirement accounts and most likely expand some trading accounts as well knowing the market is just fantastic to look at......the most wild part of this entire scenario is that the decline would only bring us back to lows only set 2 short months ago. Now that is is quite fascinating.... ______________________________
There was some topic a while back about how spy trading at $450 was acting irrational because it had no pullbacks...and I said it was totally normal, and we could easily see $550. Well here we are. I'll find the screenshot I posted of this C&H setting up later if I can find it. Target. The projected advance after breakout can be estimated by measuring the distance from the right peak of the cup to the bottom of the cup. So if we add that distance to the breakout we get to the 1.618 fib. https://school.stockcharts.com/doku...s:chart_patterns:cup_with_handle_continuation
very wrong in terms of approaching this view. a fast 10% folks may bail out and managers will exit, some may try to get back in, that is fine. the bigger issue here is the spy-rsp spread, a strong divergence began in may 2023, now 6 names counted for 40% of the gain this year. when people realize that these 6 are just large companies pushing up shares via buy-backs. rsp-spy will inevitably converge again. future performance of spy would not be what you think.
So everybody's just going to ignore that I nailed it once again? Don't you guys get tired of me being right? Don't you get tired of all the analyzing you do that ends up amounting to nothing?
It’s obvious you are in pain since this market keeps going up. You have to realize that every single dollar is support on SPY or QQQ. Can you imagine if this fell like 2-3% which you will get at some point, but from where who knows and it will make a V within 3 days.
I told you guys where this was going like 4 months ago and here we are today. There is absolutely nothing unusual going on... price is just going where it needs to go.
They mentioned this again today, that the same 5 to 6 names are the only stocks keeping the entire market up. This has been happening for quite some time though....leadership has literally separated to the point where over 494 stocks are not participating the way they should be.
So can you pinpoint price action today on june 18th 2024 where we will be on the s&p in 1 month. 3 months 6 months and 1 year Give me the s&p numbers within 50 points for each of those time lines S&p price target for: 1 month 3 months 6 months 1 year