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Looking at the global equity markets, the long-term outlook does not seem that good. The Dow is trading in a range, meaning it will likely continue to head up to test the prior high, as mentioned in the previous post here:
https://synapsetrading.com/2013/10/price-action-trading-dow-jones-index-equilibrium-trading/
The S&P 500 on the big picture looks ike it is forming a wedge kind of pattern, suggesting an underlying psychology of toppish behavior. This, coupled, with a long-term channel line, does not bode well for the next few weeks to come. We shall see.
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Hi, Spencer here! 😀
After making my first million at 28, and trading & teaching across 60+ countries, I have consolidated my knowledge and experience to create the most comprehensive & practical guides for profitable trading, compiled from thousands of books, websites, courses, and interviews with professionals.
As a former professional trader in private equity and proprietary funds, I have over 15 years of market experience, and have been featured on more than 20 occasions in the media.
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