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Or a bull and bear trap

Makes sense to me. Hence why I closed my shorts, but does seem to be drifting down still.

I think it will go much lower than that soon. But the hourly is oversold and the 4 hours is almost oversold so I think we might see a spike upwards first.

Nice! I decided to close my shorts just there around the pivot points. Will go short again later.

Agreed, but I am not sure we are quite at the "blood on the street" moments yet. That's the time to buy!

Well your trend line in the 2nd image is in a different position now because otherwise the recent touch would look like it broke through a bit too much perhaps. But I can see what you are trying to say anyway. I'm staying short from the top there based on similar charting.

The down trend line might have brought the price back down after all. Still quite early though.

The MA isn't really hindering the upward move much, this looks like its going for the trend line touch. Or maybe that wont slow it down either now.

And SPX now

Did you catch that jump or are you waiting for a bigger one? I went short before the open.

It just cant stay above 4029 without being repelled downwards again. Was that the 8th failed breakout of the day now? The polarity must be in reverse.

I really want to see this breakout, but I am getting impatient.

Well i will take that back then :-)

I cant see it getting back near 4030 now. The SPX is back below the major 0.618 level again. Probably just downside from here on.

Yeah this is more like the sort of price action I was waiting for :)

The trouble is, the price isnt really moving at all.

Agree 100%. If it goes long I can see quite a reversal and a close well below the peak again. kick starting a leg down.

Not quite the volatility I was expecting. The price has hardly moved at all. I was expecting an upwards move off the back off those jobless claims.

So I cant tell if now is the drop ready for a big push higher, or if yesterday/last night was the pump ready for a big drop today.

Well if we see an up spike just before the announcement i will probably look at closing my long. Those early spikes up seem to pump the market before a big drop. I will close my long at break even if it starts to drop and reopen at a lower price if the reverse happens.