S&P500 CPI higher than expected. Can it repeat this bullpattern?

The U.S. CPI came in higher than expected at 8.2% against a 8.1% forecast but lower than the previous month (8.3%). It remains to be seen how the market will react to that.

Technically though, the bearish leg of S&P500 (SPX) since the August 16 Lower High within this 2022 Bearish Megaphone, is close to completing the exact same pattern of the previous two bearish legs, after which both rebounded aggressively above the 1D MA50 (blue trend-line) to form a Lower High within the 0.618 - 0.786 Fibonacci retracement zone above the 1D MA200 (orange trend-line). The 1D RSI has been on a similar structure as well.

The 0.618 - 0.786 zone is within 4007 - 4145 and the 1D MA200 at 4145 (and falling). Do you think the S&P500 will ignore the higher than expected CPI and repeat the pattern by completing it on a rebound?

P.S. For better comparison purposes I've plotted all fractals on top of one another (blue, orange and grey lines).


-------------------------------------------------------------------------------

** Please LIKE 👍, SUBSCRIBE ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support me, keep the content here free and allow the idea to reach as many people as possible. **

-------------------------------------------------------------------------------

You may also TELL ME 🙋‍♀️🙋‍♂️ in the comments section which symbol you want me to analyze next and on which time-frame. The one with the most posts will be published tomorrow! 👏🎁

-------------------------------------------------------------------------------
👇 👇 👇 👇 👇 👇
💸💸💸💸💸💸
👇 👇 👇 👇 👇 👇