Stock will recover from their 3 month downtrend after bouncing off the ascending channel support which was confluent with the longterm widening cone.
We see that RSI broke out strongly from its downward trend after printing very deep bullish divergences on the daily.
I suspect that the Feds started reprinting giving the grim geopolitical events and the curbing of Russian hydrocarbons which pushes oil and energy prices up aided by inflation as well.
I am not sure where SPX is heading, but now I doubt the target of 6000 that I gave in 2020. There will be a catastrophic downfall of all markets when the index breaks down from the ascending channel.
The news that Saudi Arabia wishes to sell China its oil in Yuan denomination will certainly heavily undermine the Dollar and markets. There will be wild oscillation through different assets including crypto.
We see that RSI broke out strongly from its downward trend after printing very deep bullish divergences on the daily.
I suspect that the Feds started reprinting giving the grim geopolitical events and the curbing of Russian hydrocarbons which pushes oil and energy prices up aided by inflation as well.
I am not sure where SPX is heading, but now I doubt the target of 6000 that I gave in 2020. There will be a catastrophic downfall of all markets when the index breaks down from the ascending channel.
The news that Saudi Arabia wishes to sell China its oil in Yuan denomination will certainly heavily undermine the Dollar and markets. There will be wild oscillation through different assets including crypto.
