$ES Rolled From 1.618-#fibonacci; Bears in Force | $SPX $SP500
Traders,
An expanded triangle completed at point-5 following a surgical alignment with an internal symmetry projection off of same pattern's Point-3.
Since this Fibonacci validation, price rolled below the pattern's 1-3-5 Line and is now at a point of recovery as it approaches this line's underbelly.
Look for signs of capitulation, such as repeated failure of ascent at specific, well-defined Fibonacci levels, namely:
- 0.786 = 2069.50
or
- 0.886 = 2072.25
These values should be defined by measuring the height between Point-5 and recent higher-low structure at 2048.25, yielding the price defined.
If bears retain control of the chart, I would look for failures at 2048.25, and 2014.50 as added bearish confirmation, opening the floor to levels as low as 1879, defined by a deep 0.786-Fibonacci retracement coming in near-alignment with an internal geometry core at 1870.00.
David Alcindor
Predictive Analysis & Forecasting
Denver, Colorado - USA
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Twitter; @4xForecaster
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An expanded triangle completed at point-5 following a surgical alignment with an internal symmetry projection off of same pattern's Point-3.
Since this Fibonacci validation, price rolled below the pattern's 1-3-5 Line and is now at a point of recovery as it approaches this line's underbelly.
Look for signs of capitulation, such as repeated failure of ascent at specific, well-defined Fibonacci levels, namely:
- 0.786 = 2069.50
or
- 0.886 = 2072.25
These values should be defined by measuring the height between Point-5 and recent higher-low structure at 2048.25, yielding the price defined.
If bears retain control of the chart, I would look for failures at 2048.25, and 2014.50 as added bearish confirmation, opening the floor to levels as low as 1879, defined by a deep 0.786-Fibonacci retracement coming in near-alignment with an internal geometry core at 1870.00.
David Alcindor
Predictive Analysis & Forecasting
Denver, Colorado - USA
----------
Twitter; @4xForecaster
----------