AMEX:SPY   SPDR S&P 500
382 6 5
The argument for more downside is here. Notes on chart. Also consider on a larger time frame, we are re-tracing a Butterfly and right now have not hit the .619 while we overshot the .50. The 100dma and price (ration than ratios) seems to be the reason we have seen a NT low.
the orange line looks like a cup and handle
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Chief_Tardis Chief_Tardis
inverse ofcourse
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KLang Chief_Tardis
Cup and Handles are continuation patterns. An inverse cup and handle, there, would happen after a decline has started, it doesn't start the decline.
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True...may be start of the collapse with FOMC next week.... :-)...
Also when you mention twitter feeds, is it under trading view itself or a different name?
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KLang Chief_Tardis
no, I'm on twitter and do intra-day posts there @kymlang
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Thanks!
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