S&P 500 - Same corrective pattern as Sept?

By Dr_Roboto

Updated

I am watching to see if we repeat the same corrective pattern as Sept.

Today at 1h

Sept at 1h

Also note that there is a very clear S/R region right where we open this morning.

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11:36am update.

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2:43pm

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end of day

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7pm

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Tuesday morning update. Looks like in overnight trading the S&P broke above the resistance trend line. This may be a good bullish sign. However, if this is a local peak, then it is still a lower high than last week, so that is bearish. The other bearish sign is the 1.5 extension to this point. I would hope to see a 1.618 or higher extension to call this a bullish wave.

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10:56am and bulls in charge today

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bulls still going strong at 12:26pm

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End of day. Broke through resistance lines, but the orange channel provide a stopping point at the end of the day. Fell back inside and a candle testing it as resistance.

Dr_Roboto

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