SPX - 2000 and 2020 - 20yrs Apart - Same Old Pattern

Call me crazy, but there appears to be a tremendous similarity between the price action now, and during the late 90's and 2000 tech wreck, there is one key difference, that is the 2000 price action topped out and rolled over after the final wave up, whereas the 2019-20 market found a friend with the fed's injection of liquidity into the repo markets.

The end to QT and the September repo intervention (around the highlight region) was the point where the price broke out and the non-stop rally into 2020 began, however, as you can see we are at crucial overhead resistance (going back to 2012), whilst it would not surprise me to see a melt up phase (more so than we are already experiencing) and a blow out of the resistance, the probabilities of a continued rally after the fact is dubious at best.

Food for thought.

- TradingEdge
Beyond Technical AnalysisbubbleSPX (S&P 500 Index)techwreck

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