If the big break setup is coming I think this would be around the end of the last big rally.
We've made the sharp corrective move spoken of in the below idea
We've made the sharp corrective move spoken of in the below idea
Note
SPX is now 10% off the high and not made a new local high on the 1 hour chart the full way. That's never happened in any of the last 15 years.
This is entirely different from the action of the previous sell offs.
Note
It's a far more consistent and structured downtrending- this can build into a flash crash capitulation leg. I think after this we'd have a massive rally back to test the highs, but this change in tone in SPX price action is extremely telling in my opinion.
I've never seen SPX downtrending like this so notably and compliant with the norms of a downtrend. Usually its crashing or going up. This is trending down.
We may be inside of a crash event to 3000 in SPX.
Read the full case with backlog of historic analysis/forecasts here: holeyprofitnewsletter.substack.com/p/the-case-for-3000-in-spx
Read the full case with backlog of historic analysis/forecasts here: holeyprofitnewsletter.substack.com/p/the-case-for-3000-in-spx
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.
We may be inside of a crash event to 3000 in SPX.
Read the full case with backlog of historic analysis/forecasts here: holeyprofitnewsletter.substack.com/p/the-case-for-3000-in-spx
Read the full case with backlog of historic analysis/forecasts here: holeyprofitnewsletter.substack.com/p/the-case-for-3000-in-spx
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.