Two very intriguing events have happened recently that you may find interesting. The first is in the title of this post.
Triple top patterns speak for themselves, and usually are a good indicator of a market reversal, much like Triple Bottoms. As the saying goes, markets will often give you a 2nd or 3rd chance to buy in or get out, but they rarely give a 4th chance and almost never give a 5th chance.
As per google search:
"The triple top pattern is a type of chart pattern used in technical analysis to predict the reversal of an uptrend. The pattern occurs when the price of an asset creates three peaks at nearly the same price level. The area of the peaks is resistance."
I should point out that the third peak is only just formed, so if you are heavily invested in high risk markets, you definitely want to take precautions here, but also use your own judgement.
The second thing that has happened recently is intriguing and curious.
I logged into tradingview yesterday and was met with this message:
To be clear, this is not Tradingview's policy, it is the policy of recently changed exchange regulations for the S&P and Dow Jones Indexes, which means that some very high up people made this decision, for reasons that seem to coincide with a very bearish Triple Top Pattern forming.
Maybe it's a coincidence and I'm seeing more than what's actually there, but when it's not about money and it's not about (historically) sensitive information, I am left to wonder what other reason exists for the NYSE and other exchanges to block a target audience form seeing these charts and interacting with them, especially when Tradingview themselves are saying "we have no effing clue either."
So take care with your portfolios and don't take stupid risks when the market is screaming at you to air on the side of caution.
As a bonus topic, I would also strongly caution against starting up a new business, or switching jobs right now if you can help it. At the start of every economic recession, there will be more open jobs than workers, and workers will be enticed by increased wage offers to switch jobs, only then to be laid off 6 months later. One in the hand is more valuable than two in the bush during these times.
But nothing I say is financial advice, it is only my opinion based on my own limited scope of awareness. Do your own homework and don't make irrational moves because everyone else is doing it.
In my line of work, I have the luxury of seeing the current sentiment of the average consumer and homeowner (no, I don't work at a till or in real estate), and in the past 2 or 3 years I have been observing a gradual decline in consumer sentiment, and an increase in consumer frustration over how fast the price of goods and services has gone up since 2008. Sadly, this trend isn't over in my own opinion, as the cost of manufacturing and the cost of living are matching the mania of the markets and bleeding edge policies.
I know this post is on the negative side, but it's merely just my own outlook and brief analysis of what could happen. Do your homework and seek the opinion of more than just one person, because I can and will be wrong at times, even when all the signs are saying we're going in a particular direction.
Thank you for reading. Shares and comments are always welcome.