The downward-sloping channel remains in play with price at the top rail contemplating a break out after recent years. The bule sideways symmetrical triangle, and sideways triangles for the indicators shows that a major decision is on tap, up or down. The Baltic is in the cellar for so long that up appears the only path forward but in these markets anything can happen. China and Asia is slowing down. Europe remains in recession and depression. Everyone touts the U.S. economy but 25 million remain unemployed or underemployed with little hope. The joyousness in the U.S. is simply due to the pumped-up stock market due to the Fed and BOJ. A breakout above the top rail of the channel will indicate that the global environment is healing and would signal that months ahead the economic activity will pick-up across the globe as delivery of raw materials increase, however, if price stays within the channel, and breaks under the lower blue trend line of the sideways triangle, the global malaise will continue and the question will be how long can the Fed and BOJ keep the markets pumped when economic conditions remain in a malaise. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.
We have witnessed the power of the artificial market, stimulus and the feds are responsible for our modern day steroid infested marketplace. It does not matter how much of a little wimpy dweeb you are, or how sick or even dead you are, the illusion will be kept in place by plastic surgery, steroids, and electronic illusions. Point is, the world can fall into a complete economic collapse and the illusion will of prosperity will be maintained through a market like this, as well as a police force to keep the poor in place, along with an illusion of constant war and threat to keep the middle class in the dark and unquestioning. Our economy is on anti-depression medication, the true free market economic model was destined for this as built into it's core has always been this evolution illusion created by the feds and banks.
ReplyDeleteit's like describing Orwell's "1984" :)
DeleteV.
Good morning everyone,
ReplyDeleteI am still looking short term market top around SPX 1668 and start correcting from there by May 23.
Happy trading!
you'd better not front running the markets... sometime the plans are changing.
DeleteV.
Anon, looks like the SPX will want to run to 1668 if the 1660.50 is taken out and it is currently being tested for the second time today.
ReplyDelete