S&P 500 rallies seems to be driven entirely by the short coverings. Every time there is a fall the SPX reverses and makes a new high.
Also there is remarkable similarity in the way the fall comes and the %age of the fall.
Like the average fall for last 4 times has been 5.5%age form the top and then there is new top formation of about 2-5% from previous top.
The same pattern was in play during the recent downtrend and then rally. Also SPX has made a new high at 1105 worth noting is how much further the rally can go now.
Also there is remarkable similarity in the way the fall comes and the %age of the fall.
Like the average fall for last 4 times has been 5.5%age form the top and then there is new top formation of about 2-5% from previous top.
The same pattern was in play during the recent downtrend and then rally. Also SPX has made a new high at 1105 worth noting is how much further the rally can go now.
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