TradingView
ProfitHarvest
Feb 19, 2021 6:28 PM

[SPX] What a Ride This Week... Prepare for Turbulence! Short

S&P 500SP

Description

Look at all those fun structures up here above the 1.5Y Peak Channel.

Diamond = Bullish Breakout
Flag/RW Chimera = Bearish Breakdown
RW = Bearish Breakdown
Flag = Bullish Breakout
RW = Bearish Breakdown

Who coulda ever guessed Price would struggle so much above that Magenta line?

2/6 on Bullishness rn, not lookin great.

Comment

We got another structure!
Comments
DaddySawbucks
Looks to me like a Wave 1 impulsive move with an ABC form; now in wave 2 counter-trend; wave 3 to start next week, will be ferocious IMO
Petrichor_
@DaddySawbucks, I agree. I'll feel better after it breaks below 3860 and then 3700. How low do you think this thing goes? I'm targeting 3550, ... after that, not sure if it continues.
ProfitHarvest
@Money2020_ET, Could bounce at 3600 but if we get under that, could go to 3250.
Petrichor_
I always love your charts! I think next week is finally the week!
Mihai_Iacob
I like this
Thanks for sharing
jude_walters
Excellent work.. Thanks for this..
AdamEiseman
Thanks for the amazing content Rich!
War_Z-one
It looks awesome and unique
More