Big down move today. What's next?

Which of the following do you believe is most likely to happen for the S&P500?

  • Today is the start of a downtrend. The S&P500 will be lower in 5 days than it is now

    Votes: 5 14.3%

  • Today is the start of a downtrend. The S&P500 will be lower in 10 days than it is today

    Votes: 1 2.9%

  • Today is the start of a downtrend. The S&P500 will be lower in 20 days than it is today

    Votes: 5 14.3%

  • Today was a temporary pullback. Within 5 days it will be higher than the 6/21 open

    Votes: 5 14.3%

  • Today was part of a pullback. Within 10 days it will be higher than the 6/21 open.

    Votes: 1 2.9%

  • This is the beginnign of chop. Over the next 3 weeks it will neither exceed the 6/20 high nor the 6

    Votes: 5 14.3%

  • lol I don't know, price is random

    Votes: 13 37.1%
  • Total voters
    35
Will price break out upward or downward?

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Price is going back up!

It appears to have bounced off a trendline.

Monday's low and today's low both touched this trendline.

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I wonder if this was just a coincidence or if that was a legit trendline bounce and price is going to go up for a while now.
 

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I'm surprised trendline crew hasn't started saying that I "drew the trendline incorrectly."

I think they will wait and only say that if price comes back down and goes through the trendline.

If price continues to go up they will say "you drew that one correctly." :D
 
Looks like Europe actually managed a solution, at least for the time being. Definitely under the category of "will wonders never cease."
But, need to crack 1360. Doubt it happens today. If there's follow through next week and it goes, throw the bear under the bull.
 
Quote from gmst:

+111

Crude, Aud, Spoos, everything going under. This was not a generic trend day, but start of a downmove, that will last at least 5 days and possibly a month. ES will definitely break 1300 within next 3 days, if it is a big red flag. If we don't break 1300 within 5 trading days, we are going to rally big time.
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Time for a reality check. My prediction was wrong, after 3/5 days, ES didn't break 1300. Other part was correct, if we don't break 1300, we rally big time. 5 marks out of 10. Bad but not too bad :)
 
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