Because the chart was telegraphing this correction over a year ago. That's why. External factors do not affect price action!
Are you saying that significant changes in economic fundamentals caused by governments don't alter the markets and prices? Tell us what happens if the Fed raises interest rates to 10% tomorrow or lowers them to 0% tomorrow because a politician told them to do so?
Yes! Everything is already determined by the chart. At some point this needs to bounce so yeah would make sense...I could chart it and give you time lines and price levels like I did a year ago. You can just plug in whatever news makes it make sense to you. You can zoom out on the daily or weekly and see that five cycles holds up no matter what the news even going through 2008.
Wall Street bull slashes outlook for S&P 500, citing Trump tariff impacts https://finance.yahoo.com/news/wall...00-citing-trump-tariff-impacts-142610704.html
These analysts are late & didn't do their homework. They should have been doing this 6 months ago. Reminds of equity analysts who downgrade stocks after they have already crashed.
Meteorology is a voodoo science. Nobody can tell you if a cloud/storm front will come on time or if it ever even comes.
He's been mostly wrong for decades in very profound ways. No matter what US indexes are doing, there are always strong long trades and strong short trades in something. But there are these market geniuses on here who think they know where the SPX will be with absolute confidence. You know the Calhoun's and S2007S who think a 50% crash is about to happen almost every single year. The V guy isn't any better of course. I had to laugh after spamming this board with crash calls for weeks, S2007S turned around today and said his 'retirement account' is making gobs of money ( ignoring the fact that QQQ is down 8% this year ). The bs meter goes way off the chart. It's like when Calhoun says he's scaling into UVXY one afternoon and the next day it gaps down 10-20% and he goes quiet.