The chart lays out what I think could possibly happen beginning tomorrow.
DO NOT TRADE. NOT A PROFESSIONAL.
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NOT INVALIDATING MY IDEA but closed my short at 2625 from a 2634 entry today. EXERCISING NO EMOTIONS.
REASON
Swapping over to my preferred way of tracking S&P, symbol 'SPX500'.
-Notice 1hr oversold -Hovering around 1hr support of a bull flag which makes me think we may just be consolidating in a bull flag -We just hit point #1 on chart again which is the 50% retrace from all time high to recent low and have pulled back.
***I would watch this carefully as it looks like it could provide resistance but may also be indicating an IHS on 5 min coupled with oversold conditions on the hourly/2hr could take us up to the recent highs testing resistance***