Quantum_Maryland_Capital
Short

$SPX: From a Wedge to a Channel

FX:SPX500   S&P 500 Index
112 0 2
As butterflies pass through a metamorphosis, markets do as well. On my futures charts its very clear that the wedge has given way to a channel and I think this is true for the $SPX             as well.

Though sloping down, its been profitable, thus far, to sell tops and buy bottoms. The last days are perfect examples.

The market is a historian of the first order and should the ES_F continue its fall we will likely visit 2017, 2016, 12ish, 10ish, 2005 and 1999 depending if we pass through the 200 DMA.

Again, these are battle tested ES_F numbers; to get to the $SPX             equivalent, add 3 to 4 points.
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