Possible "Price TA inflection point"...

Scataphagos

Scataphagos

Possible double top... not likely THE BIG TOP, but perhaps for a corrective period. Some are calling "top" and for shorts.

It would be tactically reasonable to play 18700 as a "pivot"... long above, flat or short below.

FWIW...
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Scataphagos said:
Possible double top... not likely THE BIG TOP, but perhaps for a corrective period. Some are calling "top" and for shorts.

It would be tactically reasonable to play 18700 as a "pivot"... long above, flat or short below.
More...


Makes sense.

In addition, on Weekly charts both SPX and NASDAQ are in zones which are watched by traders, so a pause or a pullback is possible.

I would not go long (on EOD TF) above 18700, I would need to first see consolidation / tight range, or a thrust through the level and then trade the first pullback. Or alternatively a bulltrap would be nice. (My comments are about EOD TFs, not intraday TFs)

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This retail stock is up 860% since last July. Significantly outperforming NVDA & SMCI.

The SP500 returned 129% since 2017, ANF a whooping 990%.

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Keep in mind the monthly and quarterly CLOSINGs are approaching.
Is "chart painting" still a thing?

Quarterly index futures charts can use calendar date or contract roll for the quarterly print.
 
I would be concerned with the long dated charts here, many looking like they need to barf.
Looking at the treasury market is this a possible Head and Shoulders bottom?
If yes, we are in for a category 6 hurricane.

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