Price has come up past 2500, and has come back down to touch 2495 and hold as support. Look to see if price can hold here and continue upwards past 2505 and re test as support. if not, we are going to come down to 2487 and maybe 2480 again for another test.
Price has come up past 2500 to stal at 2505. Look to see if price drifts back down to the sliding parallel or the next support area near 2495-2500 to show that it will continue. If price rises from here, look for the next sliding parallel and the upper blue median line as resistance.
Price hs come to the top of the action reaction set. Look to see if price holds here at resistance and comes down to the 2486 area and lower. we are following the blue median line parallel and have not broke through and retested as support, which is a bearish sign.
Price has stalled at the 2505 area. Look to see if price can break this level and continue upwards. Price could come down lower to 2500 area and the lower median line again if we don't see a follow through. Look for a break higher and retest of 2505 if we can get momentum.
I have drawn in the modified schiff fork on this time frame, and have noticed the sliding parallel showing frequency that we are on right now. If we go down look for 2495 and 2488 as support. To the upside we can look at the blue median line, and the upper blue median line parallel.
Price has moved higher, but is still following along the blue median line. Price will probably continue a bit, then break out aggressively either way. The line is acting like a magnet now as it follows along, which happens about 15% of the time near median lines. Notice that we are at the top of the yellow action reaction set as well, so this could also be a...
Price is at 2505, and has pushed a bit higher after touching 2500. Look to see if price will continue upward to the next sliding parallel, before continue to the upper blue median line parallel. Price is hesitating a bit and looks a bit extended, so we would need a heavy push to get moving upwards.
Price has broken through to the upside and is currently at 2505. We are following along a sliding parallel resistance line, so look to see if price come back down to 2495 or 2500 for resistance before showing if it will continue higher.
Price has come down to retest the blue middle median line. Look to see if price will continue upwards from here and break the 2495 area, or continue down and touch the 2480 as support. Price looks a bit extended at this point, so I would be more cautious of any new long positions, and I would encourage to look at structure formation especially as support.
Price has broken up past the blue middle median line. Look to see if price can continue its upward momentum. I am expecting a small pullback to the middle blue median line or to 2480 to act as resistance, before possibly going higher. We are at all time highs, and a psych level, so I would not be surprised for volatility in this area.
Price is still at the retest of the break of the lower blue median line parallel. Look to see if price will come back down to 2480 and hold as support, or go up to hit the upper action reaction set line.
Price has continued to rise but is having trouble breaking the retest of the back of the lower median line. Look to see if price can continue higher from here, or if we go back to retest 2480 which I think we should do today.
Price has risen to the upper resistance level and the back of the median line. Look to see if price will come down a bit today as we are at the back of the median line which can act as resistance and the resistance line confluence.
Price has broken the downward fork, but still hasn't made a new high yet, so I will still leave it in the downward fork. Price is now at 2474 area, and is turning. Look to see if price fills the gaps, or breaks higher and tries to break 2480 and 2488.
Price has slowly come up to the 2480 level again, after hitting the 2450 area as support. Look to see if price will break the 2480 resistance level, or if it will stop here and break down again. Price has broken out of the large blue median line, and is following the path of the upward sliding parallel, so it appears that price should try to touch the upper line...
Price is at resistance at as it has gapped up over the weekend to 2474 area. Look to see if price will hold here at resistance or finally try to break 2480 hard, and again try to retest the middle blue median line again.