SandP looks ok to remain short overnight - target 2337

FX:SPX500   S&P 500 Index
66 2
Nice falling wedge developing today on SandP - much better on 1 minute chart as usual.
Looks ok to stay short of this market as downside target has not been met yet at 2337-6.
Tokyo isn't going to ride to the rescue, that's for sure
Comment: Der. Having to change from 1 minute chart to 15 minute chart caused the comment attached to move off the screen print above, sorry.
It suggested using a stop at about 2353 if staying short overnight.
It should hit 2337-6 target overnight before 2353 is touched.
Damned annoying day really but look at how tiny moves in Facebook have been amplified on the SandP...look at that pretty loud hailer (falling wedge).
Notice also how the Global Dow slipped down to the very brink of the breakdown level at 2265 and stepped back...when that goes you need to be ready. OK?
Comment: Should have titled that one Tokyo Drift
sumastardon, excellent charts and analysis. When you made the FB comparison earlier in the week it was another ah-ha moment for me. Made total sense and I should have made the connection or at least felt like I should have. Thanks for the reading reference from another of your s & p posts. I look forward reading more about WD Gann.
amazing reverse falling wedge - cool
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