Everybody sucked in as we make the second "shoulder" in everything that used to be hot?
You can believe in drawing charts or not, but the psychology of this market is very complex. One notable aspects is that everything that used to be hot is much less hot today compared to a few weeks ago.
Most of the leading "ex hot stuff" has put in a second lower high, which could be the second "shoulder" in a possible head and shoulder formation.
Believer in formations or not, but things could get fluid should we start taking out stuff a few percent lower. Watch all those trend lines closely.
Charts of; KWEB, ARKK, IPO, SMH, NASDAQ, EEM, BTC.
There are many more, but you get the point...
Most of the leading "ex hot stuff" has put in a second lower high, which could be the second "shoulder" in a possible head and shoulder formation.
Believer in formations or not, but things could get fluid should we start taking out stuff a few percent lower. Watch all those trend lines closely.
Charts of; KWEB, ARKK, IPO, SMH, NASDAQ, EEM, BTC.
There are many more, but you get the point...