S&P 500 IndexShort
[SPX] Price Came to Rest On 5Y Trend and 2Y Peak DT.. Nailed It!
Updated
I laid that yellow 5Y trend line back in May. The light blue Peak downtrend a couple months back.
Those two have now converged to create a powerful S/R. Above this we can crash back down any second, below we drop hard. Price very reactive and unstable at these growth rates.
GEX spike and GEX/DIX Diverg both at ATHs. That is max bearish predicting a major pullback within about 2W, just in time for election!
That aligns nicely with my volatility charts and recent RSI predictions for both UVXY and SPX... 26th is feelin about right.
Those dark blue lines are the 2Y Peak Channel that cut down the previous runup mid channel.
They run the show at these heights... price should be highly reactive especially near the top line as it tries to exceed maximum growth rates for the last 2Y in the middle of a recession and a pandemic at double the unemployment rate... lol, good luck! B)
Those two have now converged to create a powerful S/R. Above this we can crash back down any second, below we drop hard. Price very reactive and unstable at these growth rates.
GEX spike and GEX/DIX Diverg both at ATHs. That is max bearish predicting a major pullback within about 2W, just in time for election!
That aligns nicely with my volatility charts and recent RSI predictions for both UVXY and SPX... 26th is feelin about right.
Those dark blue lines are the 2Y Peak Channel that cut down the previous runup mid channel.
They run the show at these heights... price should be highly reactive especially near the top line as it tries to exceed maximum growth rates for the last 2Y in the middle of a recession and a pandemic at double the unemployment rate... lol, good luck! B)
Note
Nailed the call B)
Data analyst with a passion for best fit lines B)
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