Loading ...Not sure what to make of the $COMPQ Monthly…
The break into a new higher level looks like a legit 1,2,3,4 – break out! running consolidation.
The market volume is unbelievable. Is it distribution to the FOMO crowd or the start of a market melt up?
I don’t know if I have ever seen the MACD at a higher level.
I have heard that the market to GDP is trading at the highest level in history. I don’t know if that is a true statement or not.
The COMPQ is up 950% since the 2009 low.
Is everybody all in? Are there any buyers waiting to buy? Is there cash on the sideline?
My concern, of course, is what could happen to the PMs IF this market falters. There would be margin calls, and traders would sell what they can to raise cash – including Gold and Silver.
Interesting times, indeed.
A Chart…My Kingdom for a Chart
🙂
Interesting Take Foxy.
Is there such a thing as Overbought any more ?
“I don’t know if I have ever seen the MACD at a higher level.”
You haven’t.
Moreover, the MACD histo (MACD – Signal) on the monthly is also at its highest ever.
EW prefers reference to the 34 5 1 macd, not the 12 26 9, but peak histo’s usually correspond to third wave tops, and a peak index level (final high) then comes on lower MACD or lower histo (or both) on the divergent 5th wave top. Doesn’t preclude a nasty 4th wave decline ahead, and I see that possibility looming once we get into 2021. Not before.
Thanks, pedro, for you feedback. Much appreciated.