Look at this chart !
This is a real time 60 Minute Chart of the S+P 500, Sept.26.2023
When they teach you technical analysis,
the chart pattern shown here is identified as a "Parabolic Rollover" Pattern.
That's about as bearish a pattern as you'll find anywhere.
Simply put, the further price drops....
the further down price will have to go...
to fulfill the minimum downside "technical expectation"
Right now,
this extremely bearish pattern is projecting to a MINIMUM 4103.98
the May 24,2023 Low, by my interpretation.
It takes a long time to build a pattern like this.
Keep that in mind and do not attempt to pick a bottom right now.
This pattern had its origins in the spring of 2023,
as the Fed continued to raise interest rates dramatically above 5 %.
Finally. you should realize
that this is the kind of pattern
that can eventually induce ..."panic"... into the marketplace.
Don't let that happen to you...
SPX Open 12 Noon EDT
4286. 52
THE_UNWIND
WOODS OF CONNECTICUT
This is a real time 60 Minute Chart of the S+P 500, Sept.26.2023
When they teach you technical analysis,
the chart pattern shown here is identified as a "Parabolic Rollover" Pattern.
That's about as bearish a pattern as you'll find anywhere.
Simply put, the further price drops....
the further down price will have to go...
to fulfill the minimum downside "technical expectation"
Right now,
this extremely bearish pattern is projecting to a MINIMUM 4103.98
the May 24,2023 Low, by my interpretation.
It takes a long time to build a pattern like this.
Keep that in mind and do not attempt to pick a bottom right now.
This pattern had its origins in the spring of 2023,
as the Fed continued to raise interest rates dramatically above 5 %.
Finally. you should realize
that this is the kind of pattern
that can eventually induce ..."panic"... into the marketplace.
Don't let that happen to you...
SPX Open 12 Noon EDT
4286. 52
THE_UNWIND
WOODS OF CONNECTICUT
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.