whiteknightmoving
Short

SPY SPX SP-500 Power Level +1 reached today!

SPCFD:SPX   S&P 500 Index
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Power Level 1 (study W.D. Gann ) was reached today! This area around 2663 is strong resistance! This could be an important turning point in the market. The next few days should show us a breakdown lower, and the first good confirmation would be a nice break of the extremely tight blue diagonal shown.
Think of the cake decorating tool like the piping bag. (My wife uses that to squeeze the frosting out and decorate a cake)
As more and more pressure is applied, the frosting works up to the focal point and then once it "pinches" at the tip it comes out of the funnel, very quickly.
Stocks behave the same way.
Look for the market to finish this up sloping "funnel" and then an extremely fast reversal downward breaking the lower blue line.
technically a short, but news catalysts are too huge to ignore...2720 minimum.
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