Doom and gloom
Updated
Uuuhm..
Is nobody noticing this like at all?
Patternwise doesn't that look like pretty much the worst thing in the world?
I don't know much about the fundamentals of american economy (or about economy in general lol), so maybe everybody is just relaxed because of reasons that i don't understand, but from a pure TA point of view looking at the chart, shouldn't you be crapping you pants at this point as long as the S&P 500 doesn't break that line of resistance decisively?
Granted if that huge pattern gets violated and nullified with a break to the upside these levels could be amazing entry points to a mega parabolic year long bull run in US stock markets, but as long as it is still not really escaping this huge bearish pattern, aren't you guys even a little scared of this huge ancient 30 year old resistance line??
Is nobody noticing this like at all?
Patternwise doesn't that look like pretty much the worst thing in the world?
I don't know much about the fundamentals of american economy (or about economy in general lol), so maybe everybody is just relaxed because of reasons that i don't understand, but from a pure TA point of view looking at the chart, shouldn't you be crapping you pants at this point as long as the S&P 500 doesn't break that line of resistance decisively?
Granted if that huge pattern gets violated and nullified with a break to the upside these levels could be amazing entry points to a mega parabolic year long bull run in US stock markets, but as long as it is still not really escaping this huge bearish pattern, aren't you guys even a little scared of this huge ancient 30 year old resistance line??
Note
How about that rejection?It might be just the beginning by the looks of that chart..
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