There is a lot of noise about the indexes making ATHs recently and whether or not a large move is imminent in either direction. However, a plot of NYA vs. SPX shows a composite of every single listed stock on the NYSE was NOT able to recover from the euphoric buying in Jan, 2018. In addition, we are quickly approaching the long term trend line at 13,000. Do you think we will breach it or fade from there? Let me know in the comments!
if the trend line you have drawn is long term, i do not know what, the trend line i am seeing, is ! i can tell you one thing, though: the high on that chart you have posted will be broken. if you observe the yellow trend line and extend it,this market [i do not know what is the market:i only trade eurusd and usd jpy] will test that yellow trend line .
Thinks the highs in early 2018 is a left shoulder, so market should break that to form a head. I don't believe the huge tax breaks corporations got from 35% to 20% has changed the stock market, yet...
%% Sounds about right. Plus MAR sell off sure was weak, QQQ closed higher week after week, not weak.Main reason i sold some QQQ releated ,today, was i had something else to do tomorrow.Looks like QQQ closes up again , not a prediction with one hour to close, 200day moving average is still up.
Some of the folks here are comparing this rally to a 2016 scenario. I fail to see the resemblance. In 2016 we did not have any peaks in charting (sudden change in financial paradigm) nor was the yield curve inverted at that time. Both are at play ATM. Either way we are probably within ± 2% from the top on major indices. If it goes beyond the previous highs tho, well, caveat venditor!