October 2014 - October 2015 coppied and pasted on to years 1965-1966 correction rally and correction.
Here is a possible fractal where current price could be following or rhyme with years 1965-1966. Both periods had an initial correction (october 2014) both periods had a powerful rally out of the correction lows that made a similar % move and time move from lows to highs. Both periods seem to have made a wedge into highs. From highs to the August 24th lows both periods made a similar % drop and took a similar amount of time. Current price is following the sideways chopzone of year 1966 to date. If current price can not break out of the chopzone where year 2015 continues to follow the year 1966 correction. I would believe towards the end of this week into next week the S&P500 could make a final top before dropping another 16% if year 2015 continues to follow year 1966.
I could be 100% wrong! I also have a bullish view where if price breaks out of highs or finds support in the chopzone the S&P500 could go on to make new highs or test highs. I don´t know so I am keeping an open mind to bull and bear setups. If the short continues to trade I will look to sell the ES with a stop to show me I am wrong and not max pain.
Best to your trading!
Here is a possible fractal where current price could be following or rhyme with years 1965-1966. Both periods had an initial correction (october 2014) both periods had a powerful rally out of the correction lows that made a similar % move and time move from lows to highs. Both periods seem to have made a wedge into highs. From highs to the August 24th lows both periods made a similar % drop and took a similar amount of time. Current price is following the sideways chopzone of year 1966 to date. If current price can not break out of the chopzone where year 2015 continues to follow the year 1966 correction. I would believe towards the end of this week into next week the S&P500 could make a final top before dropping another 16% if year 2015 continues to follow year 1966.
I could be 100% wrong! I also have a bullish view where if price breaks out of highs or finds support in the chopzone the S&P500 could go on to make new highs or test highs. I don´t know so I am keeping an open mind to bull and bear setups. If the short continues to trade I will look to sell the ES with a stop to show me I am wrong and not max pain.
Best to your trading!
