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apb270

Spinning Top comparison near termination of Rising Wedge (2D)?

S&P 500 Index (SP:SPX)  
apb270 Updated   
SP:SPX   S&P 500 Index
Trend Analysis Chart Patterns Technical Indicators SPX (S&P 500 Index) markets Bearish Patterns
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trendanalysis chartpattern indicator spx markets bearish
I know it's kind of a stretch to make about the candlestick but trying to cover some more (bearish) angles and indicators before finally throwing in the towel. Also depends on the close. Might as well see it through to the end of the channel. Since my last chart, price has remained within the wedge as it has tightened.
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the DXY just tagged a major trend line at 95 (Drawn -Slope from April '11-through April '14-through Winter '18. Reversal for Dollar ? Bullish from Here ?
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Spinning Top Turning into a Shooting Star for close. More Ominous ?
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Disregard last Comment
Comment:
The Stochastic RSI is aligning on an extended Upper-Band basis e.g. the 3-Hr, 4-Hr, 1-Day, 2-Day, 3-Day, 4-Day, 5-Day, and the 1-Week are tracking nearly identical. The 1-Hr and 2-Hr are close and should reach that territory tomorrow, Friday, Aug. 7. This is the type of setup that defines tipping points. This does not mean that the high is necessarily in yet, as the 1 Week chart topped in a similar position the Wk of January 13th in the SPX, which made new highs through February. The event of COVID helped accelerate the move to the downside, but the trend was signaling a correction save the Wk of Feb. 10. If there is some massive news tomorrow that skews bearishness for the markets, there would be a nearly perfect confluence awaiting for accelerated downside. Like I mentioned, a greater market move could be pushed, but my attention is going to be very close to the news tomorrow, which could outline something new for the future that the market has not already forecasted and digested.
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