Very scary chart for the bulls?

You sure about that?

https://www.breitbart.com/economy/2019/04/26/us-economy-grows-3-2-percent/

 

R-E-S-I-S-T-A-N-C-E

is spelled as

O-P-P-O-R-T-U-N-I-T-Y.


Sames goes for S-U-P-P-O-R-T.

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Bull markets have no resistance;
bear markets have no support+ when SEC fines TSLA $40,000,000...…………………………………………………………………….

 

What happens to old Resistance?

 

While I agree with this, I would conjecture that support needs be broken definitively prior to action for most retail.

 

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It means much less in a good uptrend, like SPY/bull market.And while its true QQQ tends to outperform on upside[+ cut thru resistance easy/uptrend; QQQ pays less of a dividend + has gone down more in summertime. NOT a prediction, not a scary chart.I never buy food @ AMZN

 

*sighs* yes yes, old resistance becomes new support. Blah blah. We shall see. But it is still a very scary chart for the bulls.

 

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Scary chart for bulls?? Not if they have pulled profits for many years, out of upTrends/mainTrends. SPY is still a good/excellant uptrend; could go past $300+...........
QQQ tracks NasdaQ fairly well- but bull markets have no resistance; bear markets have no support[generally speaking]
Onight; another reason i 'm not scared , even of a 50%drop in QQQ or 50% increase from here =not long or short QQQ as of today[SAT,MAY 4, 2019,LOL] Thanks,