$ES $SPY $SPY
“Sell in May and go away”
As mentioned in my previous post, the Dow Jones is the last index to reach the green band. This happened on Friday. I have laid out a 5 year weekly chart to show you that these rallies are completely normal.
Is it guaranteed a top? Absolutely not. What I’ll be watching for is the next weekly candle. These moves have gone absolutely parabolic in past history with the dotcom bubble being a prime example.
$ES $SPY $SPY
“Sell in May and go away”
As mentioned in my previous post, the Dow Jones is the last index to reach the green band. This happened on Friday. I have laid out a 5 year weekly chart to show you that these rallies are completely normal.
Is it guaranteed a top? Absolutely not. What I’ll be watching for is the next weekly candle. These moves have gone absolutely parabolic in past history with the dotcom bubble being a prime example.
@AlexMasonCrypto I do agree that they are very similar in a lot of aspects, different in others. I do expect a decent sized pullback that week with possibly one last pump to follow before some serious carnage
$ES $SPY $SPY
“Sell in May and go away”
As mentioned in my previous post, the Dow Jones is the last index to reach the green band. This happened on Friday. I have laid out a 5 year weekly chart to show you that these rallies are completely normal.
Is it guaranteed a top? Absolutely not. What I’ll be watching for is the next weekly candle. These moves have gone absolutely parabolic in past history with the dotcom bubble being a prime example.
The herd is now fully euphoric — screaming for 7500–8000 like it’s a done deal.
I’m also targeting 7500… but not yet.
We’ve just slammed into the top of my weekly band — exactly where I expected a reaction after the recent drop. This was my secondary target, and we hit it first. (I thought we would test 6700 first)
Caution lights are flashing bright.
Take a look at the 2022–2023 weekly chart: this kind of move is textbook normal. Now flip to the current chart — these rallies love to overshoot.
The next 1–7 trading days will decide everything.
A clean break and weekly below the green band, especially on a long wick candle, and we could see a fast elevator straight down.
Euphoria is here. The herd is chasing hard.
Be very careful out there.
$ES $SPX $SPY
@The_RockTrading I think the key is to watch $SMH the rest of the week. If it bleeds into the rest of the week, it’s gonna spell trouble over the coming weeks