Good Morning Mindful Traders,
I hope everyone is enjoying the nice cooling effect of the rain in Ontario Canada - We have been in a major heater for the last 3 months and it is now finally started to cool down.
Lets get to the SPX trades that we can set up here.
FACT Currently SPX has been consolidating in a channel since July 29th - We were able to catch...
This Concept is part of my ongoing study of Fibonacci Ratios applied to Assets.
This Chapter is part of an album to collect examples of true "Golden Ratio" growth.
This Chart captures the SPX regression in early 2020 which grew by 1.618x increments.
This Growth pattern is often called "Exponential" or "Parabolic" by many other analysts.
This Method "Defines" and...
Part of my ongoing analysis of SPX movements (see links below).
Time of this posting is Friday, before New York open.
Today's action could set the tone for rest of summer.
Dip may be done, but very possible another leg down.
3230-3232 is the KEY Resistance for today.
3193.46-47 could be a strong support if drops.
3172-3177 needs to hold if bull run to...
We can open a buy position above the Key Level 3234.1.
The global and local trends are bullish.
Potential profit will be 3 times bigger than the risk.
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"Impulse" is a surge that creates "Ripples", like a pebble into water.
"Impulse Redux" is returning of wave to the original source of energy.
"Impulse Core" is the zone of maximum energy, in the Golden Pocket.
Are the sellers still there? Enough to absorb the buying power?
Reaction at Impulse is worth observing closely to gauge energy.
Rejection is expected...