Mr.Milkshake said:
Heineken-Ashi said:
Mr.Milkshake said:
If S&P doesn't hold here, will be looking for around 6180 support if things get extreme. Low volume nodes between here and there though.
A -3.5% intraday swing is quite extreme, especially this close to ATH. Haven't pulled numbers but know it's rare as we had one of these before the tariff crash
Genuinely curious. You still think 7000+?
I'm 50/50 right now.
We already got quite close, +-6925.
I've been in a big Bend the past several days so haven't dug in. Last Thursday volume looks higher than anything during the tariff 'crisis'? With that volume and the size of the drop right near ATH, not gonna have many analogs (though already almost retraced it all) - market keeps getting more violent to the downside and upside. While I think this is the trend since 2020, it's worrisome to not have much in the way of market history to base directional bias upon. I positioned into S&P futures during tariff ordeal and not trying to get flat or short the top
Yes, that phenomenon of wild swings in both directions that seem to be gaining in ferocity as we go higher is the classic signs of a pattern I've highlighted here many times, the ending diagonal. This one just happens to be the most massive in stock market history, having started at the 2022 low, and being closer to its top with each new high. I first mentioned the potential in 2024 but it was an alternate scenario I was watching, needing the upcoming retracement to hold the 5,000 region. We got just under that and rebounded strongly and confirmed it with the new highs this year. When ED's reverse, they target their point of origin within 50%-100% of the time that it took them to complete. Hence my insistence on the SPX 3500 range being inevitable no matter how high we go. At this point, if the top were in, it could hit anywhere between late 2026 and late 2028. That timing extends if we make new highs. You usually see these patterns on shorter timeframes. Google looks to be completing one right now that would reverse by March. NVDA completed one recently and needs one more low to $165 to be fully reversed and has until the end of the year to do it. TLT completed one on a nano timeframe a couple weeks ago and reversed in 3 days. I'll post chart examples later.