The_Unwind
Short

S+P 500 2625.76 Breakout Exhaustion Split Second Top !

SPCFD:SPX   S&P 500 Index
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34
1465 20
I have been warning about a "Terminal Breakout"
move above 2600 in the S+P 500.

With 40 years of trading experience,
I have learned to spot important reversal tops in the market

This afternoon, the S+P 500 made a split second breakout move above 2625,
that appeared to have caused big money shorts to capitulate, and cry uncle.

And then it was over.
Just like that.

What appeared to be a bullish breakout, just as instantly,
became an exhaustion failure top, immediately recognizable,
and price sold off in the last very important big boy 30 minutes of trading
on the NYSE.

So now..the Jan.16,2019 high in the S+P 500 at 2625.76
is now VERY IMPORTANT. Short Term Resistance,
and should be used an an important STOP in the S+P.

If the market, follows thru to the Downside
and closes back below 2600 not breaching today's high,
then the "Terminal "Breakout above S+P 2600
...that I have been warning you about,.
.. will be realized.

SPX Last 2616.10

THE_UNWIND
1/16/19
NEW YORK






Comments

Inverted hammer on the daily as well as a demark 9 count, will let interesting to see tomorrow. Netflix earnings after close
+1 Reply
@ATCTA,

Tom Demark is one of the legends of technical analysis.
His book sits on my library shelf, and I first learned to use 4 hour institutional charting from him many years back.

Can you illuminate the importance on the demark 9 count please ?

Netflix subscription price rise before earnings, very interesting.

Thank you, Jay.
Reply
ATCTA The_Unwind
@The_Unwind, will do I'll send email with chart
Reply
ATCTA The_Unwind
@The_Unwind, essentially it's the Tom demark countdown it's an exhaustion count 9 days in a row with each closing price greater than the prior close exactly four days back in succession each day, day 5 higher than day 1, day 6 higher than day 2 and so on, usually brings a 1-4 counter trend after a 9 count
Reply
@ATCTA,

Yes Jay. Demark's important trend reversal calls,made him famous
. Thank you, for the illumination.
Reply
Micro2Macro The_Unwind
@The_Unwind, which book of Tom's are you referring to?
Reply
The_Unwind Micro2Macro
@Micro2Macro,

New Market Timing Techniques 1997 Hardcover.
Reply
my view is that we are hearing more voices on a potential drop than the opposite and it makes what you explain in your analysis correct but in the opposite direction, voices are more and more trying to bring in their churches bears, and we see what is happening
Reply
excellent
Reply
Great points. We need to gave a big trigger to go down. I think this may happen in February. Let's see.
Reply
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