Is this a Bullish Set Up?

Take a look here, as I drew a line on a chart of the IWM to confirm my bias. You might not like the market today — but according to my line — this is the exact trough of stocks.

IWM Chrystal balls

Pardon me for interjecting — but this is what peak technical analysis looks like. I am quite literally predicting the future based off a straight line made with a ruler. Should this line not hold, well then, we would’ve “broken support” and then we’d have to draw another line in order to find a “next level of support.” In theory, I can keep doing this forever until proven right, at which point I could then remind everyone about how right I was and to entrust in my expertise, in regards to predicting the future.

It would BEHOOVE anyone to actually look at valuations or read 10-ks — because the charts know all. As a point in fact, the sum total of human intelligence as we know it is reflected in the YTD performance of the SPY. To say otherwise would be to defy all logic and reason.

I will tell you, during periods when markets go down and everyone is in the dumps — those are “buying opportunities” — at times the very best “once in a life time chances” to get in at low prices. We all know the Fed has our backs and BIDENOMICS will produce records amount of jobs and wealth,a plethora if you will. We also are grateful to our corporate overlords for producing such a fine society of money producing gambits.

Into the final hour of trade, I expect the aforementioned trendline to hold, especially since there’s “so much money sitting on the sidelines.” If we do not hold, well then, it’s possible the trend would-be broken and then we’d have to create a new line of support.