Using Patterns and Technical Analysis including dumb/smart money I show what I believe is a reversal about to happen. It will be forming the right shoulder of a large Head and Shoulders pattern forming on the daily which will continue the bear market. I also believe the downside will soon accelerate after one more up after it reverses next week.
Note: I use only public available indicators in all my charts. Nothing is custom or private!
And the monthly SPX chart is interesting. 4155 is the 0.5 fib of the Jan-Oct 2022 decline so this is big resistance. Then again 313 was big resistance of QQQ and it smashed through there.
TheUniverse618
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@lavoriamo I agree 4160 is the nearest target point.
TheUniverse618
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Woops I mean 4060. Sorry I was thinking something else.
This is a really useful indicator. However the relative positioning of Smart and Dumb money changes depending on the time periods. 4-hour looks different to 3-hour. For example, on the 3-hour SPX chart the Dumb money looks maxed out in December, February and now. But on the 4-hour chart it only looks maxed in February. Similar observation for Smart money.