/biz/ - Business & Finance

Anonymous Sun Nov 18 17:34:00 2018 No.11795430 [View]
File: 507 KB, 1821x940, SP500_181118.jpg [View same] [iqdb] [saucenao] [google]

>>11795246
>how bad things are looking

There is not as much certainty about that as the media might lead you to believe. Especially the political media (not the biz media).

Pic related, I have highlighted the long term rising channel for the S&P500 since the 2000/2008 double top in yellow, as well as the more recent trend since 2016 in blue. There are three scenarios possible from this point:

1. Resume bullish trend after some further flat trading in a tightening price range
2. Double bottom on current drop at a low of $2603
3. Drop to the yellow channel for a low of ~$2250-$2350 depending how long it takes to get there. This scenario would be a recession.

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