In this post, I would like to present a 15 minute chart
of the S+P 500 from this past week's trading.
You can see by my chart notation, that two things become very obvious.
1. The breakout to the historic high price of 3258.14,
has become a 'false breakout " on the 15 minute chart.
You can clearly see the failure bar, this morning
breaking back into the prior pattern, a negative technical occurrence.
2. Next, I have divided the chart with my own interpretation of the
Balance of Power", a technical indicator that I am developing myself,
that clearly shows "price" on either side of the bullish or bearish trend line I have drawn.
Simply put, the "Balance of Power" has become negative this week,
with price breaking back into the prior pattern, after a public buying spree on Jan 2,
clearly turned into a fall away breakdown in price ( Shown )
Keep this technical evidence in mind, when trading resume's Jan 6
THE_UNWIND
1/3/19
NEW YORK
of the S+P 500 from this past week's trading.
You can see by my chart notation, that two things become very obvious.
1. The breakout to the historic high price of 3258.14,
has become a 'false breakout " on the 15 minute chart.
You can clearly see the failure bar, this morning
breaking back into the prior pattern, a negative technical occurrence.
2. Next, I have divided the chart with my own interpretation of the
Balance of Power", a technical indicator that I am developing myself,
that clearly shows "price" on either side of the bullish or bearish trend line I have drawn.
Simply put, the "Balance of Power" has become negative this week,
with price breaking back into the prior pattern, after a public buying spree on Jan 2,
clearly turned into a fall away breakdown in price ( Shown )
Keep this technical evidence in mind, when trading resume's Jan 6
THE_UNWIND
1/3/19
NEW YORK