The S+P 500 decline on the first day of June,
has put the 6 % sharp snapback short covering rally from last week,.. in jeopardy !
Traders should watch carefully, the 5/27 Support Pattern Low of 4077.43
on the 15 Minute Chart ( Shown Here)
A violation of that support, especially on a closing basis any day this week,
could open up the possibility of a "waterfall type decline"
(See all that "thin air on the 15 Minute Chart )
Minimum downside target on a break of SPX 4077 Support
would immediately project down to S+P 3986 !
THE_UNWIND
6/1/22
Woods Of Connecticut
has put the 6 % sharp snapback short covering rally from last week,.. in jeopardy !
Traders should watch carefully, the 5/27 Support Pattern Low of 4077.43
on the 15 Minute Chart ( Shown Here)
A violation of that support, especially on a closing basis any day this week,
could open up the possibility of a "waterfall type decline"
(See all that "thin air on the 15 Minute Chart )
Minimum downside target on a break of SPX 4077 Support
would immediately project down to S+P 3986 !
THE_UNWIND
6/1/22
Woods Of Connecticut