S&P 500 - BEARISH
Quick bites - Bearish Monthly wide range outside bar.
Weekly extreme wide range gap lower.
Friday daily bullish hammer-like candle/bullish harami.
Oversold.
High Friday close concocted in the last 30 minutes of trade = artificial?
Whether bullish or bearish the best outcome is that we get a small corrective bounce before extending lower.
Bullish scenario is that we are in a major flat correction C wave that should now evolve via 5 waves lower. This move could extend as far as the December 2018 low circa 2315 before recovering to make new highs in a cycle wave 5 higher.
Bearish scenario – is we have completed this bull run and we now start a five-wave move lower as stage one of a new major downtrend.
Either way, the confluence of views is lower in the immediate future.
BEARISH.
SPY 
USD 
TLT 
SPX #TRADING
Weekly extreme wide range gap lower.
Friday daily bullish hammer-like candle/bullish harami.
Oversold.
High Friday close concocted in the last 30 minutes of trade = artificial?
Whether bullish or bearish the best outcome is that we get a small corrective bounce before extending lower.
Bullish scenario is that we are in a major flat correction C wave that should now evolve via 5 waves lower. This move could extend as far as the December 2018 low circa 2315 before recovering to make new highs in a cycle wave 5 higher.
Bearish scenario – is we have completed this bull run and we now start a five-wave move lower as stage one of a new major downtrend.
Either way, the confluence of views is lower in the immediate future.
BEARISH.
SPY USD TLT SPX #TRADING
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