jeremyluce
Short

Looking for the Market Top SPX S&P 500

SPCFD:SPX   S&P 500 Index
The markets currently in the euphoria stage, posting ATH's everyday. Its only a matter of time before it pops.
Heres something to keep an eye on. Using the pitchfork to find areas of support and resistance , pivots were placed using the last major recessions.
There was a double top (1500 region) in both bull runs before 2000 and 2008, this should now serve as a major support level .

The trend angles in the bear markets ranged from 59-75 degrees during in the last two recessions. Both losing about 50% and lasting a little over 2 years.
If history repeats itself, this lines up perfectly with the major support region and falls in line with a similar trend angle and time range. Of course, all while still fitting inside the pitchfork . Too good to be true?

Also going on the 3rd failed breakout at the top of the pitchfork . This area could serve as the perfect bull trap before we drop .

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