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Closer look in days

dvilla018 Updated 

Tracks in weeks

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Killing fish in deer valley

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Sellers continue stepping in at 2955, indicating a weakening SPX. A retest at 2725 is probable, and a retest at 2635-2600 is possible. Or we entered a consolidation phase since we've tested the ceiling of 2955 and the floor of 2795 twice. If the base is more bullish 2955 will be broken. Either way, we are approaching a decisive moment. Continue stacking sandbags.

dvilla018 Updated 

Looking at the data from the low we can see a closing wedge, and given the reversal of the MAs, plus the continued downward trajectory of the 50 MA, these are strong possibilities 2955 is the ceiling and we're headed back to 2724 in this Bull Trap market. It would be wise to start stacking sandbags, but not the time for shorts unless 2955 is breached due to the...