Trust me - I believe this market carries as much or more irrationality than 2008, but from a technical analysis POV (look at the NDX/SPX ratio we are at 1999 tech bubble top as support around 3.10-3.12(consolidation zone multiple support levels) -- we should be getting a market rally at-least to retest all time highs (we will probably double top - there is a slight head and shoulders shown on this chart, but I don't think that will play out right away, we ATLEAST see 4600 again before we break 40000
Note
so far it's playing out and we are at one of the arrows in my chart (the one that rallys the least) we need to break this area to open us up to 4700 zone. I don't care about Russia, oil or anything, i'm a true technician, in the sense that I don't trade news and my foundational assumption is that all known info readily available for public dissemination is rapidly and real time 'priced' into the markets and thus into the charts.Some view my things as crazy or contrarian but that's because following the news makes you late and a slave to the power that be's agendas, but they can't control you with agendas and what not if you don't play by their news rules facilitated by controlled media
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.