WallStScalper

One More Day But SP Still Looks MISERABLE At The End Of The Day

FX:SPX500   S&P 500 index of US listed shares
SHS & Dead Cat Bounce

Most of the miserable history of the SP             is told by the above chart but here a resumé:

I see:
A symmetrical SHS            
Fib time zone adds to the overall picture of bearishness.
Shoulder, Head & Shoulder fits well with fib time zone and the cycle.
Trendline from top and the 61.8 retrace ending up in fib zone time 5
Neckline at the 2,070 handle.

Price wil until breakdown possibly bounce as a dead cat within the 61.8 retrace of top and the neckline.
As I stated in one of my other charts.. Keep on being bullish as long as bulls are breathing... I see that will come to and end within the next month. Fib zone time and cycles suggest in the 2nd week of juli

Trade what you see...best to your trading!
@BLawrenceM

Music at work:
https://www.youtube.com/watch?v=zp-f-Pwpu9E
https://open.spotify.com/track/4ebEVhWoJ35j4XcG9i5Tbu
I think you are correct to be short term bullish. I think S&P can go up to 2097-2104 on Tuesday but as I said earlier today i think it will be a bull trap and then we drop 50-80 pts from close tomorrow until expiration Friday unless Fed or IMF makes some BIG news. Good luck.
+1 Reply
WallStScalper PRO CoolCreekCTA
Thanks Same to you
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Zoom in chart and a correcet fib from 2137.01 Gives a messured harmonic ABCD target at 2003.2
snapshot
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