Its is a completion of shark pattern unless Trump tweet! any more highs will cancel this pattern.
Its look like a fake bounce, just wait for bad news to short that SPX500, GOOD LUCK.
Or maybe Black September! it's Megaphone pattern.
If SPX maintained above the trend the index may go back to 2920, if not it will be free fall. I hope it come back to bounce.
Three resistance points with decreasing in trading volume & Fibo. 88.6 ... is that enough to go down?
Index will continue to the target, THEN WHAT?
Elliott Wave View in Dow Futures (YM_F) suggests the rally from 3.23.2020 low ended wave ((1)) at 24806 as an impulse structure. Up from 3.23.2020 low, wave (1) ended at 22545 and wave (2) dips ended at 20500. Index then extended higher in wave (3) towards 24327 and wave (4) pullback ended at 22814. Finally wave (5) higher ended at 24806. This final move also...
SPX500 Rebound from ascending trend line now facing a good resistance, the probability to touch D point ?
Three points of resistances may lead to SPX500 plunge!
Two scenarios we have and I tend to the 1st scenario.
Butterfly pattern has been completed, may add some short here.
Megaphone 5th touch could fail...getting high on daily RSI. Looks like we could drop back to form right shoulder on the monthly chart. Breakout or Pullback? Comment below and let's get some TV sentiment, thanks.
US AND GERMANY YIELD CURVE for comparison purpose...