Today I have a special chart showing the S&P 500 (SPX) on a monthly basis using the Wall St Cheat Sheet.
I added in my bottom target range for this bear market cycle as well as multiple support and resistance areas, and a multi-year trend line. Once the price goes below the multi-year trend line, the Denial phase onward will begin in my opinion.
This is a multi-year chart so don't expect everything to move quickly. When zooming out, the SPX looks bearish for a while.
What are your opinions on this? I love reading your comments below.
Disclosure: I am not the creator of the "Wall St Cheat Sheet" but it has been a wonderful tool to compare against. This chart review is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #millionaireeconomics
I added in my bottom target range for this bear market cycle as well as multiple support and resistance areas, and a multi-year trend line. Once the price goes below the multi-year trend line, the Denial phase onward will begin in my opinion.
This is a multi-year chart so don't expect everything to move quickly. When zooming out, the SPX looks bearish for a while.
What are your opinions on this? I love reading your comments below.
Disclosure: I am not the creator of the "Wall St Cheat Sheet" but it has been a wonderful tool to compare against. This chart review is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #millionaireeconomics
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I hold crypto on Ledger Hardware: shop.ledger.com/?r=9f683f228f19
I find value in the data from LuxAlgo:
www.luxalgo.com/pricing?rfsn=6252565.5f61bd