@michaeljburry This all sounds not good and scary. Can we compare revenues and gross margins expected nowadays of companies to those of back then?
Which 70s company was expected to report a 74% gross margin on a 62 billion quarterly revenue (epcectations of Nvidia tonight).
$SPX - Back and Forth between Greed and Extreme Greed, as it happened back in the first weeks of 2024.
The outcome back then was bullish continuation.
There are overheated components like: 1) the distance from the 125DMA, 2) the new highs in the $NYSE, 3) the volume summation is on the rise, and 4) bonds are not doing well.
2 & 3 sound very well, that's why considering further upside is important, and the $VIX, open for everyone in link in profile⤴️is suggesting further upside for the market.
It's been a long time since I posted a $SPY weekly chart here: 50 reposts and it will be out for everyone, less than 50 reposts, and it goes via DM to people who reposted.💚
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