SP-500 and SVXY are both looking like short-term ending diagonals along with some other instruments. After reversion completes, new all time highs are expected but not necessarily due to a leading diagonal having completed. A 'tail down' on weekly breadth 50ma is still required and this move, if it materializes, may contribute towards that requirement prior to a terminal top printing. In the SVXY chart- a confirmation that it has hit it's local low within a few days proximity needs to print next. After that, a move to 62.5 price zone is expected.
Commentary- anyone remember the height of mortgage and other derivatives investments in 2007 prior to a huge slam down in the overall market? Crypto junk bonds are now going main stream...'getting in on the action'..yeah..that's how these flags are hoisted.. please do not ignore historical greed-markers that warn of pending euphoria peaks..yes money can be made but risk is elevated the higher these flags fly..
"The warm welcome from fixed-income investors shows that cryptocurrency is no longer a sector reserved for venture-capital funding, as debt investors including pension funds and hedge funds look to get in on the action.“The strong demand is clearly a big endorsement by debt investors,” said Julie Chariell, an analyst at Bloomberg Intelligence..."
When a great many traders are buying every dip or 'getting in on the action' with no slam downs to scare them a little, time to really look more closely at the behind-the-scenes patterns. It always takes more time than most expect but when it does go it can be like skidding through a busy intersection where the prior driving comfort just got nixed.
See Critical Long-Term UPDATED 4/12/2021 Review Here
The bots will flag here when they see a top. (1/25/20, 2/20/20, 4/9/20)
This Information Is For Entertainment Purposes Only. Financial Loss Can Occur From Investing.
Our favorite go to site- McVerry Report
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