It seems weekly (blue) channel is regarded and the price is pushed away from its low bound, towards the upper line. If the wave count is right we are in 3-rd of 3-rd wave, i.e. the most powerful wave. That's could be the reason the market is ignoring all bad news and risks.
The choppy move from July 2020 made a lot of people to believe it is the end (me inclusive) and take protective positions, but the market does not look like willing to go down, not now. Instead ALL horizontal corrections are up-inclined what indicates a very strong trend.
Falling of the blue channel would indicate invalidation of this idea.
We are at the very end of a hundred year bull market, the pace of the price rise is increasing again.
The choppy move from July 2020 made a lot of people to believe it is the end (me inclusive) and take protective positions, but the market does not look like willing to go down, not now. Instead ALL horizontal corrections are up-inclined what indicates a very strong trend.
Falling of the blue channel would indicate invalidation of this idea.
We are at the very end of a hundred year bull market, the pace of the price rise is increasing again.
