4 replies to this topic

[eminimee]

BEAR BAIT?

1997....we did get a slight new high with divergence back then.....and price action remained in a bullish pattern ....
I think price action right now is even more bullish than it was back then...
Best to open both of these side by side and do a little comparison ....spx:vix is also in a very bullish formation.


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[dcengr]

What about october 1997? Breadth sort of topped and went down a bit, then a mini dump... I tend to agree that theres too much bearishness for a top.. especially VIX.. thats just nuts how its going up like that. I don't have data going back far enough to find any example that looks similar to this...

[bigtrader]

Likey the market will correct internally.

[ogm]

I do notice that in 1997 we didn't have the market making new highs, during that time. This time we have divergent price. Otherwise looks similar.

[eminimee]

New highs were made then..not as much as we have done now, I think spx made a new high by a buck on that third peak...but as I said......price action is more bullish...