I use a LINE CHART to plot each day's OPENING PRICE on the S+P 500,
as well as each day's CLOSING PRICE< and do that continuously in time.
On 7/3/18, the OPENING PRICE on the S+P was 2733.27,
which matched EXACTLY with the OPENING PRICE on 5/14/18 of 2733.27
Both Shoulder's of a Head and Shoulder's Reversal Pattern are now in place at 2733.27 OPEN
The Head or TOP was recorded on the 6 /13/18 OPEN at 2787.94
If the pattern executes to the DOWNSIDE on a break of the neckline at 2697.50
then a sharp DOWNSIDE MOVE to 2678.60 should happen very quickly,
with the ultimate pattern projection down to 2607.00 also a possibility.
But there is also additional evidence that gives a STRONG BULLISH ALTERNATIVE COUNT
S+ P 500 has also formed a ROUNDED BOTTOM formation as well, as shown in Mark Rivest's latest Trading View post on the S+P
and the sharp move down in the last hour of trading on 7/3 could have put in a price Bottom on the CLOSE on at 2713.23
Trading on 7/5 and 7/6/18 WILL resolve this FORMIDABLE INDECISION PATTERN.
The BREAK OUT either way should be DECISIVE !
THE_UNWIND
as well as each day's CLOSING PRICE< and do that continuously in time.
On 7/3/18, the OPENING PRICE on the S+P was 2733.27,
which matched EXACTLY with the OPENING PRICE on 5/14/18 of 2733.27
Both Shoulder's of a Head and Shoulder's Reversal Pattern are now in place at 2733.27 OPEN
The Head or TOP was recorded on the 6 /13/18 OPEN at 2787.94
If the pattern executes to the DOWNSIDE on a break of the neckline at 2697.50
then a sharp DOWNSIDE MOVE to 2678.60 should happen very quickly,
with the ultimate pattern projection down to 2607.00 also a possibility.
But there is also additional evidence that gives a STRONG BULLISH ALTERNATIVE COUNT
S+ P 500 has also formed a ROUNDED BOTTOM formation as well, as shown in Mark Rivest's latest Trading View post on the S+P
and the sharp move down in the last hour of trading on 7/3 could have put in a price Bottom on the CLOSE on at 2713.23
Trading on 7/5 and 7/6/18 WILL resolve this FORMIDABLE INDECISION PATTERN.
The BREAK OUT either way should be DECISIVE !
THE_UNWIND