Similar to adapting the current tape to market cycle work or Elliot Wave Theory, fitting analogs - especially longer timeframe analogs - is a moving target. Here is a somewhat more compressed overlay of the SPX analog to the Australian Dollar. Interestingly, this is how I originally fit them in late May.
From this perspective, Thursday's powerful sell-off will prove to be the last bear trap before the real blowoff commences.
Food for thought.
From this perspective, Thursday's powerful sell-off will prove to be the last bear trap before the real blowoff commences.
Food for thought.
3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads.
Which stock should you buy in your very next trade?
AI computing powers are changing the stock market. Investing.com's ProPicks AI includes 6 winning stock portfolios chosen by our advanced AI. In 2024 alone, ProPicks AI identified 2 stocks that surged over 150%, 4 additional stocks that leaped over 30%, and 3 more that climbed over 25%. Which stock will be the next to soar?
Unlock ProPicks AI