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ProfitHarvest
Nov 24, 2020 7:23 PM

[SPX] Chimera Wedges Were BOTH Valid... New RW FAIL! Short

SP:SPX15
S&P 500SP

Description

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Gapup overnight recovered the RW fail to the top of the structure and continued the FW breakout.

This meltup created another smaller RW that has now failed.

Plus we may be in the midst of yet another 5Y Peak Channel rejection.

Maintaining Price in this zone ain't no cake walk people.

3680 still max peak here and that has been validated now by a range of different TA.

Comment

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Price deflected right off the mid-point of the 5Y Peak Channel today...

Comment

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RSI also losing steam and Price deflected off Core Uptrend line as well...
Trend AnalysisChart PatternsFundamental AnalysisSPX (S&P 500 Index)S&P 500 (SPX500)
Comments
NeonLight
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@ProfitHarvest, I wish you nothing but the best of luck, but these forecasts, coming from a bear, are crying wolf.
ProfitHarvest
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@rmdavido, I successfully called the September peak and first two November peaks man, what more do you want from me!? Who else making these calls on here? If you ain't makin money from this work you're not following closely enough ;).

My day trading game is weak I'll admit but that's why I don't day trade lol... day to day commentary and assessment is just a lot of fun. These swings though have been deliciously juicy!

I'll believe the Bull case when we hold over 3680 and RSI holds above the 2Y downtrend. Data suggests that is unlikely to happen at the 1W.

unicow
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@rmdavido how can the bull case be justified with fundamentals?
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