SPX CHARTS some obseravtions

P

padutrader

yellow is a break out pullback of a breakout of a trading range, red line and purple is strong bear.

blue is double bottom.....green line is a bull and because of the strong bear, the purple line, this bull is a pull back to the 20 ema.

in my opinion it is highly unlikely that bull move ,green line, will continue without a retest of the lows.
market should move down to around at least 2700.

https://www.tradingview.com/x/k24MJoY6/
 
red line was L2 short [Brooks] and green line is bull move from the bottom of a range.

the market after the L2 fell strongly so still expect the sell and 2980 to hold

even the 2961 level will likely not break.[market may open down]

down targets are 2800 and, as mentioned in the one earlier post in this thread, 2700
 
SPX has been going up in a rising channel.

It was actually a Bear Flag.
It seems to have morphed into Bull Channel.

How high / low will it go ?
Well. There is nothing to stop it from going to 3400 or beyond.
There is also nothing to stop it from going down to blue or yellow or red or beyond.
Because market don't care how many lines, MA, fibo ... we draw.
We need to consult the Crystal Ball for direction.
 
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