SPX - George Lindsay, back in the ‘70’s of last century made furore with foldback analysis. He was a true master in it. A foldback is a mirror image of the past. Planetary movements may be the cause for foldback’s to occur and investor sentiment may remember what happened in the past leading up to a foldback and reverse their positions. I follow mirror image foldbacks, but at some point in time a foldback may cease to function. So, no advice. I am following this foldback in the SPX from March 2023 low onwards. Will the foldback continue? It has to be seen, but it is an interesting phenomenon. Amplitude not implied: Time is more important than Price!.Copyright © 2008-2023 Fiorente2 - Disclaimer: This analysis is intended for general informational & educational purposes only. Past performance is not indicative for future results. No investment advice.
Note
Mirror Image Foldback (update 05/05/2023)At some point in time Foldback's will cease to function.
SPX may have reached that point by April 21st,/26th 2023.
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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.