Their are sketchy things, there are very sketchy things and there's having your entire charting history forming a bearish bat pattern and dumping 50% off the PRZ.
This is one of those extremely rate PRZ things.
Generally in a topping market what we tend to see is a 50% capitulation. Followed by some sort of bounce and then the downtrend.
This attempt at a bounce is ... terrible.
All the move contained inside of the 1.27 - 1.61 (odds in a random walk?).
If and when this 1.27 gives up as support, it's going to be rough times for this one.
This is one of those extremely rate PRZ things.
Generally in a topping market what we tend to see is a 50% capitulation. Followed by some sort of bounce and then the downtrend.
This attempt at a bounce is ... terrible.
All the move contained inside of the 1.27 - 1.61 (odds in a random walk?).
If and when this 1.27 gives up as support, it's going to be rough times for this one.
Trade active
How poor the bounce is here and how well contained it is between the fibs for the bat is much more obvious on daily. Shorts entered.
Note
Thing drops 50% and still can't make a higher high on the daily chart. That should be cause for alarm. Even after a 50% puke, no one who moves price is remotely interested.
Sketchy.
Note
These alt charts look like someone should go to jail for them. These look like blatant pump and dumps. Note
Look at that monthly wick and close at the 1.61. Not many things are obvious in markets, but if this ends up 75% lower than it is today - this will have been the closest to a free lunch on short I've ever seen.
Note
It's so obvious here that, at least in theory, soon as the 1.27 fails here this waterfalls. Super high odds.
Note
How does anything with any type of buyer demand drop 50% and then not even break the downtrend on 15 min - 30 mins charts? There are no free lunches ... but if there were, they'd look like this.
Note
You have to look at the trashiest of charts to find examples of that. It's really rare.
Note
Even AMC did better and that is down 99% 
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.