The Daily Chart ofthe S+P 500 ( Shown Here)
shows 75 trading days of upside trading activity
since the intermediate price bottom of 3070.49 on 12/3/19.
The almost daily daily no stop price advance,
from December 2019,thru January/ February 2020
took the geometric shape of an "Ascending Wedge",
a bearish "terminal" technical pattern,
often found at the end of a prolonged advance.
That is why technically for a few, myself included, it was so easy to recognize,
yet at the same time, so difficult to pinpoint it's endgame,or point of conclusion.
That kept bullish participants in the market at seemingly all times,
adding to bullish positions as the advance continued in a relentless rise to historic all time highs
Stocks kept going up,no matter what. And how complacency set into the market.
This week after a prolonged period,
the"Ascending Wedge" Technical Pattern finally resolved itself to the downside.
What took the market 75 trading days to build on the upside,
has been almost wiped out
...in just 3 trading days..
to the tune of trillions of dollars lost.
And believe it or not..
there were very few who saw it coming.
THE_UNWIND
2/26/20
NEW YORK
THE_UNWIND
2/26/20
NEW YORK
shows 75 trading days of upside trading activity
since the intermediate price bottom of 3070.49 on 12/3/19.
The almost daily daily no stop price advance,
from December 2019,thru January/ February 2020
took the geometric shape of an "Ascending Wedge",
a bearish "terminal" technical pattern,
often found at the end of a prolonged advance.
That is why technically for a few, myself included, it was so easy to recognize,
yet at the same time, so difficult to pinpoint it's endgame,or point of conclusion.
That kept bullish participants in the market at seemingly all times,
adding to bullish positions as the advance continued in a relentless rise to historic all time highs
Stocks kept going up,no matter what. And how complacency set into the market.
This week after a prolonged period,
the"Ascending Wedge" Technical Pattern finally resolved itself to the downside.
What took the market 75 trading days to build on the upside,
has been almost wiped out
...in just 3 trading days..
to the tune of trillions of dollars lost.
And believe it or not..
there were very few who saw it coming.
THE_UNWIND
2/26/20
NEW YORK
THE_UNWIND
2/26/20
NEW YORK