It's happening! Blow-off top, Day 1.
#snp500 #us500 #blowofftop #longsetup #long #bullish #ratehikes #thefed #inflation
You all know that I have been expecting and discussing this day for many moons now, the day we break above our macro downtrend. Today is that day. Day 1 of what I expect to be a blowoff top that will surprise many investors, maybe a majority of investors.
Before I get ahead of myself in enthusiasm, we will need another confirmation candle here on the daily. I'd love to see us close and open above the macro uptrend line as well, but that type of price movement is not necessary for confirmation. All we need to do is open and close tomorrow's candle above our macro downtrend and we are good to go.
New highs in the U.S. stock markets should arrive sometime this year. I would anticipate by mid-summer to late fall.
Enjoy the ride!