Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /home/traders/public_html/wp-includes/functions-formatting.php on line 76
Take a look at these two charts. They are both of the S&P 500 Index (SPX), they both span roughly the exact same time period, from the start of the year to mid April. But only one of them shows the current market. Which one is it?
And what time period is the other one showing?
Hey, no cheating!
Take a careful look at both and notice the uncanny similarities. They both top in early January and then trend down until the inflection point in early March. And then there’s a more or less orderly march upwards:
Have you made up your mind? Give up?
The bottom one is showing the current market. That was the easy one. What about the other?
The first chart is from 2003, showing the bear market in its last throes. Of course, as you know, from then on, the S&P 500 continued to climb higher and higher. Similar to today’s market, the technical pattern appeared to be a rising wedge. But this only threw off the bears even more as they waited and waited for the eventual pullback that never really came (well, until after 6 years that is ).
Honestly I have no idea what significance this has, if any, for the market right now but I’ve never seen this much synchronicity between two exact time periods. What do you think?
Free Access to Elliott Wave International
Elliott Wave has opened up their subscription walls and for just a few days, you can download 120 pages chock full of the most recent trading ideas covering the US, European and Asian markets as well as interest rates, commodities, currencies and much more. This is the most recent edition of their comprehensive Global Market Perspective.
If you delay you’ll miss the chance because only during a brief window of opportunity are they giving you real-time access for FREE. There is no obligation to pay. No credit card needed, etc. All you have to do is sign-up and in seconds you’ve got the same access as the regular paying clients of Elliott Wave and you’re downloading 120 pages of weekend reading. If you’ve got a pulse and you’re interested in trading, you can’t miss this.
Enjoyed this? Don't miss the next one, grab the feed or