Getting Close (to new all time highs)!

Here’s the 1-minute chart for the S&P 500 future contract as I type:




Here’s the tweet:





While this may indeed be the excuse that takes the S&P 500 to new all time highs (we’re really close already), remember, per our commentary of late, the charts were already hinting as much. 


Now, suffice to say, if we do get there, it’s a pretty sure bet that it’ll serve to clear out most, if not all, of the shorts (traders betting on a reversal) sitting at or near the previous high; a process (shorts buying to cover) that’ll serve to add some oomph to what’ll appear to be (or ultimately will [sustainably] be) a bullish breakout.


If however, and alas, the longer-term charts/technicals (not to mention the fundamentals) play out as we’ve been illustrating herein, odds suggest that, at some point in the not too distant future, we’ll be characterizing the next few weeks/months as a classic “bull trap”. I.e., a sucking in of the unsuspecting late-comers who’ll get squeezed by the hedge funds, etc., who’ll be attempting to, well, squeeze out whatever this aging bull market has left in it.


All that said, I still maintain that, at this juncture, the economy, and, therefore, the stock market likely have yet another legitimate leg to run — in which case the bearish setup we’ve presented won’t play outin a no trade war (between the U.S. and anybody!) scenario — if, that is, we get to that point in the relatively near future.

Share:

Recieve Between the Lines Posts to your Inbox

Sign up for lorem ipsum delores sin.

We care about the protection of your data. Read our Privacy Policy.
vulkan vegas, vulkan casino, vulkan vegas casino, vulkan vegas login, vulkan vegas deutschland, vulkan vegas bonus code, vulkan vegas promo code, vulkan vegas österreich, vulkan vegas erfahrung, vulkan vegas bonus code 50 freispiele, 1win, 1 win, 1win az, 1win giriş, 1win aviator, 1 win az, 1win azerbaycan, 1win yukle, pin up, pinup, pin up casino, pin-up, pinup az, pin-up casino giriş, pin-up casino, pin-up kazino, pin up azerbaycan, pin up az, mostbet, mostbet uz, mostbet skachat, mostbet apk, mostbet uz kirish, mostbet online, mostbet casino, mostbet o'ynash, mostbet uz online, most bet, mostbet, mostbet az, mostbet giriş, mostbet yukle, mostbet indir, mostbet aviator, mostbet casino, mostbet azerbaycan, mostbet yükle, mostbet qeydiyyat