S&P 500 IndexShort
[SPX] Mothership Expands Fleet: 2nd RW Fractal Cruiser Spawn B)
The only thing everyone seems to agree on is that this market won't trade in a narrow range for the next 3 months.
Half are SPX 4k, half are SPX 3k with not too much middleground.
We might be just breaking under the second 2W rising wedge cruiser fractal spawn after the first 1M spawn by the 7M Mothership.
This one seems particularly steep and fragile.
1st 2H candle on Friday tested bottom of RW from inside the structure and last 2H candle tested bottom of RW from below with Price coming to settle on top of the downchannel.
Forces working against Price right now:
2M Peak Downtrend (white)
5Y Trend Channel Top (yellow)
2Y Peak Downtrend (light blue)
4Y Peak Trend (dark blue)
2W Rising Wedge w/ Failed Retest
Half are SPX 4k, half are SPX 3k with not too much middleground.
We might be just breaking under the second 2W rising wedge cruiser fractal spawn after the first 1M spawn by the 7M Mothership.
This one seems particularly steep and fragile.
1st 2H candle on Friday tested bottom of RW from inside the structure and last 2H candle tested bottom of RW from below with Price coming to settle on top of the downchannel.
Forces working against Price right now:
2M Peak Downtrend (white)
5Y Trend Channel Top (yellow)
2Y Peak Downtrend (light blue)
4Y Peak Trend (dark blue)
2W Rising Wedge w/ Failed Retest
Data analyst with a passion for best fit lines B)
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