North American market crash imminent
I've come back from the dead to announce that the market is almost certainly going to have a HUGE correction. Like, 30-40% huge. The market has been veeeeery over inflated for. Well. The entirety of 2021-22. And it has shown some serious weakness. In the past few weeks I've taken money out of stocks and into savings. I think it would be very lucrative to start dollar-cost-averaging into the crash, so time for some long term investing! Oh, joy.
On the daily the SPY has broken through this long term trendline which has been extremely powerful during the 2020-22 bull market. It is also breaking support and potentially moving into a head and shoulders pattern. The break and close below 425 will commence the crash. Of course, it could bounce off 425 and continue up for a little while, but I highly doubt it will do more than consolidate before coming down. At the very bottom, there is a long-term trend line, which will likely be approximately where the crash will end. There is probably a 99% chance it will bounce back up and re-commence the bull run. But a drop below this level would be apocalyptic, potentially setting up for a Great Depression level recession. But I'm sure the feds would do something to jumpstart the market to prevent something like this. I personally would be willing to bet on this level being safe, so I will probably re-enter with a more sizeable portion at the trendline.
Stay safe kiddies.
On the daily the SPY has broken through this long term trendline which has been extremely powerful during the 2020-22 bull market. It is also breaking support and potentially moving into a head and shoulders pattern. The break and close below 425 will commence the crash. Of course, it could bounce off 425 and continue up for a little while, but I highly doubt it will do more than consolidate before coming down. At the very bottom, there is a long-term trend line, which will likely be approximately where the crash will end. There is probably a 99% chance it will bounce back up and re-commence the bull run. But a drop below this level would be apocalyptic, potentially setting up for a Great Depression level recession. But I'm sure the feds would do something to jumpstart the market to prevent something like this. I personally would be willing to bet on this level being safe, so I will probably re-enter with a more sizeable portion at the trendline.
Stay safe kiddies.
כתב ויתור
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