My own proprietary analysis of the S+P 500 Daily Futures Chart
overlaid with the S+P 500 SPX 4 Hour Chart
shows a 45 degree angle of descent trend line
from the 1/29/18 all time high in the March 2018 Futures Contract at 2878.50,
running straight down to catch the 10/11/18 SPX low of 2710.51.
I mean it was a bulls eye hit of support. Remarkable, if you could see what I am seeing.
And perhaps you were wondering why the recent S+P decline on stopped right at 2710.
So going forward,my own premise, assumption, and bottom line is this.
And it is finite, and will not change, unless the S+P 500 takes that support hit at 2710
and goes on to make new all time highs.
But for now..If S+P500 low of 10/11/18 at 2710.51 is broken decisively on a close,
and that 45 degree angle of support is violated in turn, which is pattern support holding up price...
then the trend line break of that support would suggest a 230 point projection down move.... to 2480 will be next.
A Caveat : As long as 2710 holds as S+P 500 Support, then this most bearish of forecasts, can be averted.
THE_UNWIND
overlaid with the S+P 500 SPX 4 Hour Chart
shows a 45 degree angle of descent trend line
from the 1/29/18 all time high in the March 2018 Futures Contract at 2878.50,
running straight down to catch the 10/11/18 SPX low of 2710.51.
I mean it was a bulls eye hit of support. Remarkable, if you could see what I am seeing.
And perhaps you were wondering why the recent S+P decline on stopped right at 2710.
So going forward,my own premise, assumption, and bottom line is this.
And it is finite, and will not change, unless the S+P 500 takes that support hit at 2710
and goes on to make new all time highs.
But for now..If S+P500 low of 10/11/18 at 2710.51 is broken decisively on a close,
and that 45 degree angle of support is violated in turn, which is pattern support holding up price...
then the trend line break of that support would suggest a 230 point projection down move.... to 2480 will be next.
A Caveat : As long as 2710 holds as S+P 500 Support, then this most bearish of forecasts, can be averted.
THE_UNWIND