Prepare for a wild journey my friends! B)
Coronavirus interrupted a massive 4-5 year Head and Shoulders pattern in the middle of the peak to create a Frankenstein Head and Shoulders Doubletop Megaphone pattern... a.k.a the MegaHead and Double ShoulderPhoneTM pattern.
Now Price will fall back around left shoulder levels around major S/R.
Coronavirus just sped up...
I just couldn't resist guys, I mean c'mon... today it perfectly settled on my top Megaphone pattern line prediction from weeks ago. What a TView post bait.
Every bar above this line since June 9th is red. It can't hold above this to save it's life... shit is crashing down soon.
Where else it gonna go? #SPXSideways4Life
Coronavirus panic round 2 and/or dismal...
I mostly just want to hang this trophy on my wall by this time next year B).
This is the picture the data has painted. I'm just the messenger.
There is a good chance I am off but this is looking like the most likely scenario here.
We're way above the 1 and 2 decade trends with the half decade being angled much higher.
We're in the middle of a massive...
Ok, getting back to basics here guys. Enough with the snark haha... for now.
Leaving my March crash repeat setup here just for comparison, not as an expected path or trend. Volume will still be interesting to follow here. Holding pretty close so far!
This little crash definitely took some pressure off RSI but it's clear we're still well in overbought territory...
TRIN moved to almost exactly neutral but at the end of a megaphone structure while transitioning into a wide upchannel towards PANIC SELL this is very bearish.
At this point, if it flips back above 2 (assuming the structures hold, this is increasingly likely with each passing day) the market is likely toast and crash/panic selloff/programmatic selloff...
Ramp angle is flattening since March, which is a great sign and matches almost exactly to the yellow ramp angle before the spike in March (I copied it over directly).
Volume roughly on track to match March spike too.
Fed unloaded one of their big news items today:...
I touched on the TRIN already here...
Wanted to take another angle.
Since the bounce, it has followed almost exactly to a megaphone pattern.
Those horizontal red and green lines are the indicator default, above red is SELL below green is BUY and in between in...
I just duplicated over the March crash and volume trend.
Mostly will be interesting to see if it follows a similar pattern or takes a completely different form of crash.
So far volume is a near perfect match!
Check that DPO holding strong while RSI indicators tank. This market got a long way down to go.
Let's see how it plays out B).
Haven't updated my main full-scope SPX chart in awhile.
Already hitting my predicted resistance, I just added a couple additional red lines to account for it eventually dropping all the way down to the yellow lines.
Yellow = Long Term Trend Supports (Strongest)
Green = Major Horizontal Trend Supports (Stronger)
Red = Support/Resistance Points (Strong)
I've been calling this for three weeks now and been holding most my TVIX since May 18th among other inverse plays.
Just made some revisions to my OG idea and cleaned up the lines a bit to try to dial in the up spike here.
Here's all your entry and exit price targets from May...
Both markets holding right at the primary pre-crash support. Seems it's getting harder and harder for people to short below this level.
Even TVIX dropped to $108 and popped right back up to $120 no problem. Very sticky support.
Still waiting for the pop.
Every day further we get past the down-channel, without falling back below means the odds of a market crash...