S&P biblical top? island top - falls back to 200 EMA weekly 22%S&P has made an island reversal
It will at some point fall back to the 200 EMA on the daily or weekly 22%
Bearish opportunity
I think that a multi year top is now in place for this index, this first 22% down may trigger the topping process for this index as sentiment indicators are at record levels and retail participation is at an all time high. Plus money mngt firms are fully long with next to no spare money to invest in a dip.
So like in the 1929 who is left to buy ? As per Jesse Livermore book 'Even the shoe shine lad said to the banker that he had bought stocks' and the banker went and sold out his entire holding and made himself rich as he realised there were no new buyers left everyone was all in just like now!
May be Trump stops the Fed continually printing debt to use it to buy up the market?
If debt is issued maybe they use it to buy stable coins now not the traditional markets which would lead to a huge multi year bear market for equities
Good luck to all and stay safe! Luck is when opportunity meets a prepared mind!
