$MES SPY Potential Bullish Cypher
Still waiting for confirmation of support here, but this is where youd be looking for a reversal on the Bullish Cypher. 786 retracement, and 1.272 extension.
This is also a critical inflection level and an extreme level on the PMARP. Volatility has also reached extremes and HSI has reset completely.
Currently waiting for a signal from Pulse Active RSI to confirm.
First level to test would be the .236 at the local range high there.
Above that would confirm a local pivot and id look into the common retracement levels for a guide on how to proceed.
Weakness under the 50% retracement or local resistance would tell me theres a chance of continuation to some of our other downside targets. A lower low would also break trend.
This is also a critical inflection level and an extreme level on the PMARP. Volatility has also reached extremes and HSI has reset completely.
Currently waiting for a signal from Pulse Active RSI to confirm.
First level to test would be the .236 at the local range high there.
Above that would confirm a local pivot and id look into the common retracement levels for a guide on how to proceed.
Weakness under the 50% retracement or local resistance would tell me theres a chance of continuation to some of our other downside targets. A lower low would also break trend.