SPX is in decision mode
Im always honest with my homework, I dont like to have several counts to be always right.
At this point Im seeing both scenarios:
1 - We break the orange trendline and we are off the races to 3900-4000 (not preferred)
2 - We break 3500 or Oct 2nd low, we see 3380-3410 at min!
I'm in lower lows camp, as you know. But the window for the strong move down to start is just almost out, has to start tomorrow!
- The bull flag noted on the chart cant be unnoticeable! If it breaks, that's it for lower levels until Midterms!
- On the bear side, we have perfect H&S as well as the price being so weak and bounces being so muted, its ready for the crash to start, it just needs a little help to push the markets off the cliff!
Will we have that catalysis? I bet yes, the question is when!
Will repeat again, November is a panic month. Can be an avalanche of events! War, elections, bonds going off the roof, all the economic issues around the globe.
My conclusion here is this:
- Im net short, I will flip if we get above that trendline shown on the chart and enter on re test. I dont want to do it as it will cost me in stop losses
- Im not adding to short till we break 3500 or Oct 2nd lows!
- If we break, we will see 3380-3410 and then should have a good bounce to 3500, then it will be another perfect show for a move down to at least 3200-10!
Have a good night everyone!
P.S. Please press that rocket button below, push this chart up for others to see.
Also feel free to share my charts with anyone, lets get 1k followers, means my work is important for others to see.
At this point Im seeing both scenarios:
1 - We break the orange trendline and we are off the races to 3900-4000 (not preferred)
2 - We break 3500 or Oct 2nd low, we see 3380-3410 at min!
I'm in lower lows camp, as you know. But the window for the strong move down to start is just almost out, has to start tomorrow!
- The bull flag noted on the chart cant be unnoticeable! If it breaks, that's it for lower levels until Midterms!
- On the bear side, we have perfect H&S as well as the price being so weak and bounces being so muted, its ready for the crash to start, it just needs a little help to push the markets off the cliff!
Will we have that catalysis? I bet yes, the question is when!
Will repeat again, November is a panic month. Can be an avalanche of events! War, elections, bonds going off the roof, all the economic issues around the globe.
My conclusion here is this:
- Im net short, I will flip if we get above that trendline shown on the chart and enter on re test. I dont want to do it as it will cost me in stop losses
- Im not adding to short till we break 3500 or Oct 2nd lows!
- If we break, we will see 3380-3410 and then should have a good bounce to 3500, then it will be another perfect show for a move down to at least 3200-10!
Have a good night everyone!
P.S. Please press that rocket button below, push this chart up for others to see.
Also feel free to share my charts with anyone, lets get 1k followers, means my work is important for others to see.
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