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.
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
ReplyDeleteat critical decision point?