S&P 500 IndexShort
critical juncture will be reached tomorrow
the 1960 level I've been waiting a month for has finally been reached. there is a series of ABC's in a converging formation, creating what is likely a diagonal C wave on the bigger picture. The 3 horizontal red lines are the levels I'll be watching for a reversal confirmation. Each successive one provides higher confidence in the turn.
My bias is to the short side for a resumption of the higher degree bear trend. If the market somehow keeps going, past 1970, then it will be time to step back and re-evaluate. Over the weekend I'll post some bigger picture market risk profiles.
My bias is to the short side for a resumption of the higher degree bear trend. If the market somehow keeps going, past 1970, then it will be time to step back and re-evaluate. Over the weekend I'll post some bigger picture market risk profiles.
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