There are many micro trends that we often notice but rarely apply to the macro outlook. I felt like taking a step back and publishing an observation. There are many support levels that have become resistance levels in the S&P 500. Paying attention to those levels will be a support for your trading and hopefully you won't resist pressing the like button, jk.
I noticed that the current rally in the S&P 500 shares fractal like similarities to the pre-crash market. Running through some trendline analysis with support becoming resistance on both the pre-crash and post crash rally it appears that we could see a similar February like crash coming to the new rally. Obviously markets aren't always the same but there is a...
The futures market and the market in general were actually completing a transposed head and shoulders pattern with a shortened neck. Hopefully this brings some clarity to my fellow traders who were puzzled by what they saw going on.
