S&P 500 IndexShort
[SPX] Price Walking Along 6W Downtrend.. Stuck Under 7W Peak DT!
Updated
Dangerously close to entering into crash mode if it doesn't figure out a way to recover.
TView's most dedicated crash timing charters Glitch420 is already callin this as the start of the crash and markettimer777 thinks it needs a bit more downward momentum still to trigger.
Please recall some of the words from my prediction last week:
"If Price breaks under this rising wedge and can't reclaim it and then under the 6W peak downtrend (white), we're in store for a bigger pullback. Not expecting anything major till at least the 26th though."
Broke under the megaphone top (light blue) and local S/R (magenta) solidly as well.
Every support we break under from here on out should be increasingly harder to break back above.
Trump all but guaranteed the most chaotic possible election scenario. People are worried.
Plus COVID 2nd wave ain't nothin to sleep on.
TView's most dedicated crash timing charters Glitch420 is already callin this as the start of the crash and markettimer777 thinks it needs a bit more downward momentum still to trigger.
Please recall some of the words from my prediction last week:
"If Price breaks under this rising wedge and can't reclaim it and then under the 6W peak downtrend (white), we're in store for a bigger pullback. Not expecting anything major till at least the 26th though."
Broke under the megaphone top (light blue) and local S/R (magenta) solidly as well.
Every support we break under from here on out should be increasingly harder to break back above.
Trump all but guaranteed the most chaotic possible election scenario. People are worried.
Plus COVID 2nd wave ain't nothin to sleep on.
Note
Nailed it B)
Data analyst with a passion for best fit lines B)
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