In regards to the current gyrations within the “markets” the following chart is about all there is left to speculate with, because from a technical perspective, it has pretty much nullified every, once useful, metric for calculation into the dust-heap of technical analysis history. But that’s what $90 Trillion dollars of globally synchronized central bank money printing will do. i.e., It enables the fantastical fantasy of “money for nothing” to be believed far longer than prudent perspectives can keep their sanity.
So with the above said, for those that want to know what I may still be watching, below is the same chart I’ve been using over these past weeks only with updated notations. To wit:
I’m still standing with my original call, for it is still plausible based on any remaining semblance of useful technical analysis judgements. But, as I’ve alluded to over the past week, it’s been all but nullified. So for those that want to know what I’m watching – It’s all about where I noted “Right now…”
If it stays above that line then “New, never before seen in human history highs!” headlines are more than plausible. Under it? The story can change faster than you can say “Wait, what?!”
And that’s about it.
As always, we shall see.
© 2020 Mark St.Cyr
Note: This is not trading or investing advice of any sort. This commentary is for “big picture” discussion purposes only. Please read, or re-read the “About This Site” page for any questions or clarifications.