Possible Shark Pattern on SPX, SPY, ES1!
Looks like there's the potential for the development of a shark pattern with a rather fast rise in the value of the SPX, to the point of reversal near a developing downward trend line.
A reveal here would correspond w/ a corrective c wave extending to 0.618 AB, which adds to the impulsive upward move.
Just an idea. SPX looks a little over sold in short term; although longer term rate rises are putting downward pressure on risk.
A reveal here would correspond w/ a corrective c wave extending to 0.618 AB, which adds to the impulsive upward move.
Just an idea. SPX looks a little over sold in short term; although longer term rate rises are putting downward pressure on risk.