I also highlighted in bright green where there was a dip below the highest of the MAJOR 20+ year to show how the market accumulated below those prices and regrouped for the latest rally.
Do "trends" really work in this manner? Are there really trends? Or are there cycles too? There are many questions I have tried to answer about the stock market throughout my 1000+ charts I have posted here at TradingView over the last 4 years. If you look carefully, you will see the Presidential Cycle in graphed in a subtle way in the background. If you don't look for it, you probably wont see it.
What I do try to point out very carefully, is that there are periods of ACCUMULATION and periods of DISTRIBUTION in the market and we can measure those and THEN USE THEM AS REFERENCES OR MEASURING STICKS for the next move and see how the market does compared to it's "Condition".
What I have called this is "Time@Mode" or "Time At Mode".
For now, review these long term and see how they interacted with the market and where they are and how fast they are moving up because I have to imagine we may run into the highest one at some point in the next 8 years.
With best regards,
Chat host along with @IvanLabrie of "Key Hidden Levels" chat room at TradingView.com
You can see the trend is still very much "down".