SPX500 Monthly - Blow off top coming before correction?
RSI on the monthly may need to reach at least 85-89 before we see correction. 2008 correction didn't occur until we were above both inner and outer channels here. That said, volume looks similar to what we saw prior to March 2020, but OBV is still almost parabolic. A correction is likely around the corner, but we may see a blow off top before that occurs.
Nothing guaranteed here, so if we get rejected at the top of this inner channel, we could see a more immediate correction instead.
Nothing guaranteed here, so if we get rejected at the top of this inner channel, we could see a more immediate correction instead.
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