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Pastimes : The Philosophical Porch

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To: Management1st who wrote (25805)5/20/2025 6:38:45 PM
From: Rarebird  Read Replies (2) of 26251
 
The SPX chart has basically gone up in a straight line since $5100. Short term, by any measure, the stock is extremely overbought and due for a pull back. Maybe you expect SPX to rise to the heavens?

Seriously, it depends on your time frame. Leading diagonals often retrace back to their origin once they stop rising. Why that happens, I don't know. I just know it happens a lot. Not saying it will happen this time, but it is a clear distinctive possibility.

I also see SPX in the very early stages of beginning to roll over.

Time will tell.

schrts.co
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