rv
Short

SPX500(H4). At Resistance.

rv  
FX:SPX500   S&P 500 Index
413 11 2
Horizontal Resistance. Rejection. Potential Channel upper Bound. LH(s) formation intact.
50 sma . 78.6% Fib retracement.
AB=CD . LL ?
Stochastics Overbought.
That key 2120 rejected so far today..... still early.
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GarryBartsch Justiceisfalse
Indeed. A long upper shadow on this 4 hour candle. Market rejecting higher prices for now.
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Justiceisfalse GarryBartsch
2080 weekly puts start to look interesting.
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rv GarryBartsch
its warming up.. :)
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rv Justiceisfalse
yep, generally things dont look, that rosy indeed....
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wow your ABCD was perfect there...How did you know what leg AB was going to be?
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rv docwesley90
just looked at the symmetry and left structure, though the LH did not hold.
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I'm seeing something very similar to you:

But I'm aware those little candles could be forming a tight flag and we could see price burst through the falling resistance.

I like your trend line drawing.
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rv GarryBartsch
thanks for comment and chart. There is also weakening daily momentum, and we have the 'Sell in May' and go away notion as well. Lets see.
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rv GarryBartsch
we are also, kind of minority, which in general terms, can prove a good thing. :). tight stop.
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