DJT transports bottomed; suggest SPY will top=out on 21Feb2023
DJT transports & IWM smallcaps are my favorite market leading indicators. They are the first to change market direction. Again on 24Feb, it was DJT that first made a long tail hammer…& it remained the longest.
This is most probably the bottom after DJT made a diamond at impt FIB retracement level & made last capitulation down for a bear trap.
Last 17 Sept 2018 DJT topped-out & SPY follows 16 months later on 13 Jan 2020.
Going to 2021. DJT topped in 1 Nov2021. Projecting forward 68 weekly bars would suggest that SPY may peak out on 21 FEB 2023.
This is most probably the bottom after DJT made a diamond at impt FIB retracement level & made last capitulation down for a bear trap.
Last 17 Sept 2018 DJT topped-out & SPY follows 16 months later on 13 Jan 2020.
Going to 2021. DJT topped in 1 Nov2021. Projecting forward 68 weekly bars would suggest that SPY may peak out on 21 FEB 2023.
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