Personal Finance and Investing

some are more likely to get filled, others not as much. I've looked more at gaps as support vs resistance as I do not short and do not trade on a short term basis. I'm not good at fundamental analysis, looking at balance sheets etc, plus numbers on statements can be tilted a bit. Just my opinion the numbers on charts matter more. The shooting star on the SPX is a cautionary tale for those looking to increase their exposure to equities at a certain age Those of a younger age, look away and keep on investing in your early years. The April monthly candle and three white weekly soldiers should not be ignored, I'm more into preservation mode at this point in my life.

In early April there were signs of IHS patterns that have played out, mentioned those in this post.

https://www.democraticunderground.com/100221141158#post21

When I first started looking at charts in late 1999, and through the subsequent bear market, I do remember watching a gap get filled from 1992, almost to the penny. Also watching an IHS pattern back in 10/2002, somethings never change. Accumulation, markup, distribution, markdown ... rinse and repeat. Now there are degrees of these patterns, I'll leave that up to those who are proficient in Elliott Wave and harmonic patterns etc.

I'm thinking the next high will correct from the 2009 low, could be wrong, for now, how high will we go and how low might we go? More for those close to retirement or in retirement. My kids, just keep on putting money in the market, it all depends on your stage in life ... one size does not fit all.

Horizontal grey lines are old gaps not filled, fib retracements are illustrative of where buyers come in, thinking mostly of algorithmic trading and then some retail investors follow. Chart looks a bit chaotic on a monthly view, sorry, happy to zoom in if anyone is interested.

https://www.tradingview.com/x/alKoPwsw/

Hoping to spark some interest in technical analysis in this forum and share when I can.