What is a fundamental base for this? I do not see any as of now.
tulipsNmore
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What about now?
Martzee
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Well, my question wasn't meant as sarcasm at all but an honest question based on what did you expect the reverse in trend 5 months ago when nothing like this was visible at all. We haven't violated any of your trend lines and if we retest August lows and move higher your entire construction would be invalidated. Every technical analysis doesn't work on its own but always in concert with other aspects and fundamental expectations are a huge part playing a role as a trigger to any move. If everybody will believe that the market is undervalued and the US economy is in great shape, we will rally even higher. Without these expectations we would never be able to break any trend, support or resistance. It is that fundamental expectation which works as a catalyst and moves the market through. As of now I am thinking that all your construction above is just your a cartoon doodling then. But thanks for your (non)response anyway.