[SPX] Stuck Between Megaphone Top and 2Y Trend... Price Trap!
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Today it bounced almost exactly between the entire Megaphone and 2Y trend gap.
Market gravity above the red line is too high but not high enough to push the Price back under the yellow line.
Any given day at this point is probably at about 15% chance to break and hold above red line, 35% chance to hold between red and yellow and 50% chance to fall and close below yellow.
Just gotta keep waiting for something to break... it can't stay stuck forever!
Market gravity above the red line is too high but not high enough to push the Price back under the yellow line.
Any given day at this point is probably at about 15% chance to break and hold above red line, 35% chance to hold between red and yellow and 50% chance to fall and close below yellow.
Just gotta keep waiting for something to break... it can't stay stuck forever!
Comments
https://finance.yahoo.com/news/bond-yields-sending-scary-signal-100003918.html
https://finance.yahoo.com/news/a-troubling-sign-the-labor-market-recovery-has-stalled-morning-brief-102014288.html
Whats different now is that we no longer have Yahoo telling us analysts are saying to pull out of the market. They now have articles saying the DATA is painting a bad picture. They have it pegged to roughly
7 weeks if the first article is correct...
https://baltimore.cbslocal.com/2020/07/29/johns-hopkins-press-conference-coronavirus-pandemic-latest/
No normal again til end of 2021?