In my post from 11/8/21, I stated: "We rallied into long term channel resistance at 2720-50 SPX and into the 18 wk and 75 wk Flash Crash cycles due to top out now or in the coming week+/-"
The actual results are as follows:
- The Dow and Russel 2000 made a Nov. 8 all-time high, and the indices have since seen a sharp decline.
- Bitcoin (BTC-USD) and Ethereum (ETH-USD) made a Nov. 10 all-time high, and saw a sharp decline since.
- Tesla (TSLA), one of market leaders, made a Nov. 4 all-time high and also declined.
- The SPX made a Nov. 5 high and double topped with the Nov 22. all-time high.
The Dow saw a Monday Nov. 8 all-time high and it has since experienced a sharp decline.
The Russel 2000 also saw a Nov. 8 all-time high and it has similarly experienced a decline since then.
Bitcoin, the cryptocurrency leader, saw a Nov. 10 all-time high and saw a sharp decline since.
Tesla, one of the market leaders, experienced a Nov. 4 all-time high.
The SPX made a Nov. 5 high and double topped with the Nov. 22 all-time high at the 4743.80 level. This was seen at the 66-week cycle, the 266-CD, and the 56-CD cycle. It experienced a sharp decline following this point in time.
What's Next?
A few weeks ago, we were looking for a Nov. 22 high and a decline into the next 'Time and Cycle Cluster Low,' which appears to still be in progress.
1 comment:
Good catch! Do you see more correction into December month also or reverse here to ATH this time? I am not a member yet, but curious to know what is your take here
at critical decision point?
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