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Teklologist
Jun 23, 2019 8:11 AM

Spx500: Wyckoff accumulation but bearish  Short

S&P 500 index of US listed sharesFXCM

Description

Looks to be in accumulation on Weekly TF. Entering Creek means re-test phase of accumulation high and low. Think it just tested, and if so then expect impending drop to low near ~2400.

P.S. Don’t forget this is a long-term bullish play and you will never precisely buy the bottom.

P.S.S. Made chart on phone. Hopefully it’s normal and visible.

Comment

To clarify, recently made high so could be pullback to 2750 area followed by creek phase (re-test high and low).

Comment

Otherwise, could already be in creek with the high re-test being the recent ATH. This would mean a test of the low (~2400) is impending.

Comment

Hmmm..
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