If it's going up 52.5 and 57 are strong levels at the 15m and 2h, look for rejection or breakout.
If it's going down from here or gets rejected strongly at the above levels, it'll probably test 40 which is strong on the 1D and 1W.
At fantastic value ahead of two big May events earnings and (possibly) first successful flight, look out as Price starts breaking up through each fractal for increasingly confident confirmation.
Normalized to top and bottom of time period.
APHA continues to be the most valuable cannabis company out there.
Was .85 going into new year and now approaching the .83 merger ratio agreement.
Let's keep an eye for any other opportunities to trade TLRY for APHA before they merge for good.
These Topping patterns didn't exist prior to the major Feb 16th peak, now they happen many times a week.
In addition, our earlier H&S tops were much wider than the far narrower tops we've seen since crossing the tip of the giant Bear Pennant.
Keep in mind we never fully broke below, which left the door open for the current run.
Now we're struggling to break the...
We got a lot of tightly packed EMA support right along SMA 55.
This could be a great launching pad or rapid quicksand to SMA 144, which provided great support for this recent upwave bounce.
It's still too early to invalidate a 1M structure but a close above this range would likely seal it.
Doesn't seem likely we'll break out the right side of the box.
Haven't ever noticed a RW this flat on SPX, very interesting Price Action.
Power Hour should be interesting today as this structure concludes right around starting time.
Bulls need a big upward break to 1W ATH close.
Bears would love to see the bottom drop out.
Bear case on thin ice but not invalidated yet.
A breakout over a 1M H&S Right Shoulder that takes the form of an Island Reversal by EOD while crossing over and closing under the ATH isn't a strong breakout confirm. Looks a lot more like a False Breakout here. On the other hand, momentum does look strong so could just be a technicality but need tomorrow's data to...
That's the neckline... a break under that would likely bring deeper red.
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This is a textbook H&S pattern with two failed Head Breakouts and it's encompassing 3 other smaller H&S (so far) in addition to a 1M Bear...
Something seems fishy this week, would love to get another bearish structure confirm here with a 3rd LL H&S but odds are more split on this one.
Could just be retesting the Down Megaphone structure here and maybe the Bear Pennant tips before take off. Could just gap up over all the resistance and call it good lol. Could dump tomorrow. Could blow off top.
This is the point I was talking about yesterday, the fact that we couldn't break and hold over the 1M Bear Pennant tip today is a pretty clear bearish rejection.
We also dipped out of that new Bear Pennant fractal real quick, no hanging around to test the structure a bit more.
This makes it now look like another 3rd lower low H&S setup for further likely...
We have lots of nice data lining up for new ATH.
But the Bear case still has a lot of power and the upperhand in current Conditions.
ATH odds definitely jumped today but plenty of hurdles still in the way.
March 10th seems important.
This came to stop exactly to the dot at 3840 on this 1.5Y Peak Channel mid-line fractal that was laid here 6M ago.
And look at Price just touch across the Tip Point line there to test it out.
This is the most critical point on the map right now.
Just overhead we have 3860 with a couple strong fractals.
If it makes it past there, next stop is the neckline...
My confidence in this being the top is increasing right in line with the profits from my UVXY call options.
JPow has no incentive to prop the markets with Trump out of power now.
In fact, incentives have reversed. They want this thing to tank hard into mid-terms so they can blame Biden.
What a journey we tracked this beast day by day from that first diamond...
Conditions are stabilizing again so we avoid a bigger selloff just in the nick of time here but as it stands a close below the tip of this 1M Pennant isn't looking great especially given the multitude of various bearish structures contained within.
Conditions also seem likely to improve the next few days so some bigger down movement may have to wait until next...
And incidentally the 1Y Peak Channel bottom.
The gravity of this point is highest of anything on the map.
Testing both points seems critical for algorithmic validation of uptrend, while aligned even more attractive.
Would either get a solid bounce or would drop right through depending on conditions.
Leaning towards the drop through scenario for the time...