Indice S&P 500Short
[SPX] Heading Back to Test 5Y Peak Channel Top ~3.76K
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And incidentally the 1Y Peak Channel bottom.
The gravity of this point is highest of anything on the map.
Testing both points seems critical for algorithmic validation of uptrend, while aligned even more attractive.
Would either get a solid bounce or would drop right through depending on conditions.
Leaning towards the drop through scenario for the time being.
Down Megaphone, double LL H&S and Bearish W holding well.
The gravity of this point is highest of anything on the map.
Testing both points seems critical for algorithmic validation of uptrend, while aligned even more attractive.
Would either get a solid bounce or would drop right through depending on conditions.
Leaning towards the drop through scenario for the time being.
Down Megaphone, double LL H&S and Bearish W holding well.
Note
Bigger picture...Note
BTDippers getting wiped out in these downswings.Lost a lot of steam from that last runup.
Close under all SMAs not good...
Note
SMA 387 and 987 on the 4H align nicely with my 3.76k and 3.6k calls...Note
Note
On the 1D it aligns with the 144 and 377.Note
Didn't intend for this to behave like a fractal but so far it is...Note
Back down to the 1.5Y Peak Channel mid-lineNote
Almost at 3.76k already!
Data analyst with a passion for best fit lines B)
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