SPX Analysis
Using HeikIn Ashi candle stick study combined with the Fibonacci;
Last week on the 15 minute chart there was price rejection and a triple top was formed at the Fib 50% retracement short. The rally to the up side between June 4th - 10th seems it is in a pause now and awaiting a pull back down to the loading zone box somewhere between the 50-61.8% retracement long. I am expecting that this fall in price will be quick as there is low volume between the triple top box and the loading zone box. Once price is near the loading box I expect to reach the target box the Fib retracement level -23.6% and close the unfilled gap that is left unfilled from beginning of May on the ES1!
After that.... "Market goes up the stairs and down the elevator"
Last week on the 15 minute chart there was price rejection and a triple top was formed at the Fib 50% retracement short. The rally to the up side between June 4th - 10th seems it is in a pause now and awaiting a pull back down to the loading zone box somewhere between the 50-61.8% retracement long. I am expecting that this fall in price will be quick as there is low volume between the triple top box and the loading zone box. Once price is near the loading box I expect to reach the target box the Fib retracement level -23.6% and close the unfilled gap that is left unfilled from beginning of May on the ES1!
After that.... "Market goes up the stairs and down the elevator"
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