Everything about the indicators scream overbought:
RSI is high
Price is stretched above VWAP
Riding the upper Bollinger Band
Only thing still bullish is EMA12 > EMA26, and that’s lagging. Once that crosses, the dump is on.
And let’s not forget: the Buffett Indicator was already at 1.7 before today’s jump. Normal is 0.8–1.3. We’re deep into ‘correction incoming’ territory.
So yeah, this bounce? Classic sugar high. The real pain hasn’t even started.
Random person to random person: stop buying into all the “indicators”. It’s bullshit.
You know what he’s going to do. That’s your best direction. There is no “sailboat upward hook” or “flailing fish” dumbshit charting on this. It’s unprecedented. No charts will help. In fact, stop looking at the charts and play the news. That will actually make you money.
Everything about the indicators scream overbought:
RSI is high
Price is stretched above VWAP
Riding the upper Bollinger Band
Only thing still bullish is EMA12 > EMA26, and that’s lagging. Once that crosses, the dump is on.
And let’s not forget: the Buffett Indicator was already at 1.7 before today’s jump. Normal is 0.8–1.3. We’re deep into ‘correction incoming’ territory.
So yeah, this bounce? Classic sugar high. The real pain hasn’t even started.
Random person to random person: stop buying into all the “indicators”. It’s bullshit.
You know what he’s going to do. That’s your best direction. There is no “sailboat upward hook” or “flailing fish” dumbshit charting on this. It’s unprecedented. No charts will help. In fact, stop looking at the charts and play the news. That will actually make you money.
The news is telling us all to buy right now.
Go ahead and place $1000 on s&p 500 at market open and tell me how it does over 1 week.
Good luck. I’ll think back on this next week.