Breakout_Charts

Significant Buying Opportunity ??? $SPY $SPX

Long
SP:SPX   Indeks S&P 500
This is a long term monthly price channel of $SPX starting with the low in March 2009 up until the present. The mid point of the price channel has proven to be powerful support while the top end of the price channel has proven to be powerful resistance. There's only been six significant penetrations below the mid point of the price channel since this trend has been established. Each penetration of the midpoint ended up being a phenomenal buying opportunity with the lows of that penetration only being broken twice with both instances happening with in two months of the penetration and the low being surpassed and over taken with in the third month. The average gain between the penetration low and the next all time high has been 55% with a low of 25% and a high of nearly 94%. Each significant penetration has coincided with world-ending news: European Debt Crises, Changes in the White House, Trade War, Economic Shutdowns, Lingering Pandemic Outbreaks, Inflation...... Every single time the head lines screamed "This Time Is Different"

So, is this time really different?
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