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<\/a><\/p>\n1 – The ‘arc’ is complete. All that remains is the final surge to touch the old highs.<\/p>\n
2 – The 8 year cycle is clear and the next low is due anytime from around late 2023 (when does the descent into that low begin ?)<\/p>\n
3 – The volume indicator (doesn’t matter how it works) – blue and red lines oscillate, but don’t really cross in a bull market.<\/p>\n
4 – The volume indicator is approaching the extreme prior to a major pullback, but the red line hasn’t quite hit the ‘extreme zone’ yet.<\/p>\n
5 – MACD is in long term bull mode<\/p>\n
6 – Stoch hasn’t quite hit the red line associated with bull market interim peaks, but it will soon<\/p>\n
Putting all of this together, along with current sentiment and fundamentals, leads me to believe we have the conditions suitable for a final push to the old highs. I think we’ll arrive there with very stretched indicators suggesting a sizeable consolidation\/pullback is likely. I expect the bears to come out (yet again), with calls for $1000 (yet again). They will be wrong (yet again). It will be a great time to take profits and sell many positions if you want to, knowing that you can get back in at lower levels.<\/p>\n
I know some are expecting the move to just go straight past $2000 and head towards $2500\/$3000 without any major pullbacks. At this point, I don’t think that is the most likely outcome. I wouldn’t say it’s impossible though, just unlikely.<\/p>\n","protected":false},"excerpt":{"rendered":"
Chart first, then I’ll explain how I’m interpreting it… 1 – The ‘arc’ is complete. All that remains is the final surge to touch the old highs. 2 – The 8 year cycle is clear and the next low is … Continue reading