World Stock Markets Trading Discussion - Limping legacy

[DrStool]

Broadening right shoulder. Left shoulder peak was 2829.99. So far here got to 2829.03.  2830 would invalidate the potential pattern. 

[Jorma]

There is enough 'liquidity',  any hour or few hours, to lift stocks via the derivative markets or to some extent the real cash stock markets.  This is a different matter than systematic liquidity in the global banking/financial system. 

 

To a large extent stock prices have always been episodic. each day a  discreet  interplay of short term players. 

[I_Am_Madness]

Might be time to pick up some gold.

 

Pattern looks identical to the 2016 correction. 

[I_Am_Madness]

scenarios: 1. spx runs up to new highs and continues on to 3200

2. fails quickly after hitting ath's and retreating back to 2500, eventually falling

to breakout point of 2015 highs.

3. real aggressive selling would take it over years to 1800, possibly being the head of major h&s top leading to 800 if 1800 would break

 

at this point, 1 is the preferred option until proven otherwise

 

What if it drops to 2700?

[I_Am_Madness]

Currently flat..retest of recent highs could be in the cards.  Going to wait for another short attempt at 2838-2845 area with stop above 2850.

[aussiebear]

---> Flummoxed Friday

 

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