$SPX Chart Update: Look, there's 80 reasons I can give that...

$SPX Chart Update:

Look, there's 80 reasons I can give that stocks will continue higher. That is because the SPX goes up about 80% of the times in the long run. No arguing that. Stay in the long game long enough, you will be rich, or at least richer than you were before.

But if I had to show the other 20 reasons as to why stocks will NOT go higher, at least just in the interim, it would look something like the chart below. We got the grand mommy of them all, the MOAT. This line is aligned perfectly with the 2007 and 2021 tops and now with today's top (so we think). Coincidence? Who knows, but it looks pretty doesn't it? Then you got the BOAT and the COAT, shorter time frame trendlines that pretty much align perfectly as well.

Hey before you judge, you gotta admit the acronyms are clever. Sue me.

Anyways, so we got 3 notable lines reaching a precipitous or what I call a "Boiling Point."

Will stocks just blast straight through and invalidate my stupid chart? Sure. Will stocks drop here and make me look like a king? Sure too. The point is stocks can do no wrong right now and I can easily draw up a chart of how SPX can rocket to 6,000 with hardly a pullback as well.

But where is the fun in that since it is the majority consensus!? Just tossing different ideas out there. Use it. Ignore it. Fade it. Laugh at it. Print and frame it. IDAG.

https://x.com/Mr_Derivatives/status/1794148233222164590


...a very interesting chart from a technical perspective. And the fact that we have a bearish divergence along with divergence of Dow & Dow Transport vis-a-vis Nasdaq, suggest that we are at an important inflection point that is more likely to fail to the downside.
...next week will be important.