Here we have the really important parts of the SPY.
The touchdown (twice) at the Big CL (fat frey) is a great indication that we are going potentially higher.
The black resistance where we are now, is also a CL from High-Low extremes.
The orange sliding is the Shift in frequency and can be used as a confirmation too, for either long or short.
The Trend Barrier is a very important zone. If SPY can break this one very hard, then the we have a chance to continue higher. BUT - if SPY is failing at this level, then i would expect a new low ...yes, below 180...
The second opinion is, that the current PB is just the middle of the real swing down. If this is true, i expect the market runnung down very hard another 30-50 Points, the same way like it did bevor...
October 1. could be a key Date...
Let's see how this plays out...
P!
Comment
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This one is a long time back.
Check out what happened so far and see how A/R works...
Great analysis F, I expect a run up to your trend barrier level where it will meet strong resistance and possibly like you said...complete the bigger swing which will possibly be even bigger! My timing points come out close to your date.....between September 23 (Important Gann Seasonal Date for CIT) and Sep 30. Look for a major news event trigger around this time also....The chart/ Price will ultimately be the JUDGE!...We will see how things unfold
Tr8dingN3rd
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Price found resistance at the shiffed freq. line.
Now it's down again, probably only to start the rise...or not :)
If not, price has to deal with 2 CL's...usually havy resistance.
...to be continue ;-)
Timing_is_key
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You are right....wild days....beautiful example how price is sucked back into the GAP's each time.....Stay tuned....something is brewing