Price has broken to the upside out of the downward sloping fork. Look to see if price can continue on this blue median line path to the upside.
Price has held the blue median line as support for the time being. Look to see what price does in the next few days.
Price has come back up to the upper pink median line, after nearly touching the median line and finding support at 2562 and the sliding parallel. Look to see if price comes up to try to break 2594 area.
Price dropped down to below the blue median line as we had mentioned as a possibility. We are now near the 2577 area which could act as possible resistance to the upside. If we start to drop again we could see the blue median line as support or 2562 again.
Price is at the bottom blue median line and is trying to break down. Look to see if price breaks down and hits support at 2545.
Price continued to break down yesterday and dropped all the way to the sliding parallel that we had also drawn in. It broke down faster than we thought, but price stopped at support at the sliding parallel and support at 2557 area and reversed. We are again now at the resistance point of the sliding parallel and we may drop a bit from here.
Price is at support near the 2564 area. Look to see if price will rise some from here for a bit to 2571 before possibly continuing lower.
Price has dropped down from 2594 and is now at support at 2562 area. Look to see what price does here. If we break and continue lower low for 2541 eventually as support. Price will follow the pink median line until it breaks to the upside.
Price is at the lower blue median line. Look to see if price will break through and continue lower. If we do break through, look for 2544 as support.
Price has started to show it may turn over after hitting the sliding parallel resistance again and pointing down. Look to see if we break 2577 and then continue lower.
Price has come up to hit the sliding parallel as resistance, and is drifting down look for 2563 area as support, as well as the middle median line.
Price did as expected and mentioned in my last post on this timeframe. I had mentioned price shouldcome up to 2585 or 2580 then give a signal to possibly drop. We now are at support at 2571, but it appears that it may break. If we do break here, look to the median line, and also 2565 as support to show if it may continue to the upside.
S&P 500 Index SPX500 The last short got stopped out at even - right idea, wrong double top. Now it's fallen below the parallel that's been guiding this impulse wave since summer lows...it's trying to make a feeble counter-rally back to kiss the underside of the lower parallel before it falls away again to 2566-2564 range where it should make a rally attempt...
Price has broken down and hit the median line, then rose up to resistance at 2585 which is also previous resistance, and came back down to hit support at 2571. Price is choppy now, and volatility is increasing to the downside. Price may come up a bit more before trying to make another move to the downside. Look to see what price does at 2580 and 2585 levels.
Price has dipped and found buying again at the lower median line, but price is looking like it may try to drop here out of the fork. Look to see if we can break 2593, or if we will come down through the pitchfork and break down.
Price has moved down slightly after touching the the sliding parallel that had acted as support, as now resistance. Look to see what price does as it rises here, because there may be continued weakness.
Price has dropped down after touching resistance multiple times. Price looks like it may break the blue median line now. If it breaks hard, we may be in for a consolidation.
Price could not break above resistance, and hit resistance again at 2593 area and dropped. It looks like it could continue as the move is large to the downside. Look to see if 2577 or 2570 will hold as support