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Higgins Capital Management, Inc.

More Fun With Technical Analysis!

I've been sharing this price chart of the S&P 500 as the downward sloping, sawtooth price  pattern has developed, since the high in December 2021.

Since my last chart, the S&P has now failed to penetrate resistance for the 4th time.

This signifies an increasingly bearish market.

Today I’m sharing  an expanding triangle formation in light of the Fed's hawkish commentary, after their latest interest rate hike, on Wednesday of this week.

This formation shows a more negative possibility for new lows.

One where the next decline may be 35% below where we are today. 

A possible downward move to 2500 from 3831 today.

Don't shoot the messenger.

Technical Analysis charts only show possible future price outcomes based on past moves.

They allow you to see possible outcomes.

Better the devil you know that the devil you don’t know.

Forewarned is forearmed.

We continue to warn against trying to "ride this out."

This Bear Market hasn't seen capitulation yet.

Don't get caught without a plan.

Especially for your retirement planning.

Let me hear from you.

Text me: (858) 251-6873.

The information contained in this Higgins Capital communication is provided for information purposes and is not a solicitation or offer to buy or sell any securities or related financial instruments in any jurisdiction. Past performance does not guarantee future results.

#retirement #fiduciary #financialadvisor #higginscapital #income #wealthmanager

Ray Higgins
San Diego