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I like to look first at the basic structures we can see.
The S&P 500, after breaking down from the channel it built over the summer, has generated a bear flag, from which it has now fallen initially and has also backtested that from beneath today. In the process of all of this, it has also lost its 50-day simple moving average, backtested it as well, and has so far been rejected from it:
Purely from a simple structural perspective, it’s a grim picture. Is it going to break down? I don’t know.
I will resume my present efforts to count the structure.
Many thanks for your patronage, I hope you find the work useful to you. And we’ll see how things develop next week. I hope you all have a lovely weekend.
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You are also warmly invited to join our growing community in the Discord server (there are many public features in there). The invite link is here: https://discord.gg/58FSjcDhvG.
The operation of Twitter has changed considerably since Musk took over and put in the blue check. The algorithm started burying things with links to subtack which prompted Doomberg to leave. I still write my weekly blog on there because it’s mainly for me anyway, but the new algorithm seems to heavily favor the big accounts with blue checks, so it’s a lot harder for smaller accounts to grow.
Fortunately I’ll still get all your posts here whatever you end up doing.
Yes, i think you’re right: there have been significant changes since Musk took it over. Well, i have your articles sent to me in a feed reader, so I get yours regardless. 🙂
I still post my blog link on Twitteris what I mean, I’m still on WordPress.