[SPX] Preparing to Launch Into a Wall

SPCFD:SPX   S&P 500 Index
We got a false breakout today.

Judging by this crazy market I imagine we'll launch out of this thing and see some rapid retrace above 1Y Peak Channel just as we did today.

This thing likely to pullback soon.

We'll be falling below red soon enough.
Comment: Revised, new bigger RW...
Comment: It dropped out of both the RW and FW...
Comment: New structures...
Comment: Breaking under critical fractal...


definitely think we have some up to go, but February 4th and mid-late March keep calling loudly...all it will take is some government pull out and down she will go. obviously they know that and are avoiding at all costs, but you can't stop fate
+3 Reply
Don't be so sure... still waiting for the massive parabolic blowoff vertical spike
+2 Reply
ProfitHarvest DaddySawbucks
@DaddySawbucks, Would love to cash in on that scenario too. The higher it shoots the harder the fall.

Just gotta feelin this gonna be anti-climatic haha.
+1 Reply
DaddySawbucks ProfitHarvest
@ProfitHarvest, Closed out inverse ETFs and bear spreads on this selloff. Probly gonna bounce; calls are stupid price now premiums doubled so u can't make anything. I watched the 2/05 378 calls go from 5.60 > 5.90 while SPY rose $2, any price change is already discounted in the option.
+1 Reply nailed it!!!!
+1 Reply
New structure is saying what exactly, thanks.
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Remember it can happen anytime. In fact when no-one expects it more likely.....
+1 Reply
Still looks like a descending wedge waiting to breakout to 4000 by March.

Not sure about you but definitely buying off any dips!
+1 Reply
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