Kirn
Long

Updated S&P thoughts. 2743-> 2700-> 2890

FX:SPX500   S&P 500 Index
I've been stubborn in my hypothesis that people will "sell the rally" instead of "buying the dip." I see the top of that rally around the historical yearly average of 8% ytd gains which is at 2890. I also looked at most of the previous recessions and they all had a first move down before retracing 78% of that move before heavy selling into the December earnings .

Basically on a small timeframe it looks like the red wedge is breaking down which would yield my desired 2700 target. I think it will all get bought up pretty quick and look like a false breakout thus implying a breakout of the opposite side (up)

White (wedge??) yields my desired upper target, but the two look ugly together. Oh well.



Oct 23
Comment: Potentiality for 2675 by tomorrow’s open. Keeping 8$ stop.
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out