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ProfitHarvest
Aug 13, 2020 7:50 PM

[SPX 30M] Treasure Map Microcosm Analysis... Breaking Under S/R! Short

S&P 500SP

Description

This is what we were expecting. After this, Price should retrace down to yellow line in and red line will flip from S to R but doubt we'll even get a retest at this point.

Comment

Possible head and shoulders taking shape!
Comments
DaddySawbucks
Reversal Pattern, textbook (Murphy Fig 4-10a, p.109):
ProfitHarvest
@DaddySawbucks, Cool! Laid that line weeks ago, would be awesome to nail the inflection down on the 30M haha.

DaddySawbucks
@ProfitHarvest, I'm out for weekend; IMO one more bull up likely Monday. Bearishness is muted Friday... Short the rallies!
nychump
Hopefully! I get the feeling that so many people are looking for either upside or downside that the market may just not move at all for the next 3 months lol

The volatility lately has been sucked right out of this market.
ProfitHarvest
@nychump, yea cuz of high liquidity, see @Itsallsotiresome

No chance, markets prefer to move up or down. They can't stand trending sideways for long!
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