++, the 2.618 level was the first retest of the March decline! Truly incredible.
A break above $1703 brings us straight to the $1800 mark. However, we have seen these channel lines respected for many years. A rejection of this channel, and we could see an ABC corrective wave back to $1400 before continuing higher.
Bulls (& the FED) gave it all they had today, but were unable to fully close above that .5 FIB mark. A gap down Monday, and we may commence The BIG SHORT 3.0.
Bulls are going to push this as high as possible tomorrow to set up one long weekend. Expect this mega bounce to make an abrupt turn back to new lows.
Deflation may just be getting started. From a technical stand point, SLV could see the $10 low tested recently.
Looks like GU is ready to get moving. Target :: $1.20547.
Look to short upon confirmation if this breaks down.
Clean flag break down with attempted retest. Bulls need to step in here or we will revisit $4,000 fairly soon.
Clear channel break here for $SPY. General sentiment coupled with price action suggests we head lower from here.
These key levels are now at play. Wait for confirmation at each.
Lows on stocks might be far from in if this flag plays out.
We have reached an incredible point on $SPY. If bulls can step in here and break this channel, $273 opens up nicely. If they drop the ball, however, we head straight back to the $217 low. I remain neutral until a direction is chosen.
We broke down heavy at the monthly trend line. Volume is slowing on this bounce, leading me to believe this is a sell. First target:: $13.04
News is lining up for this to be true. Price Target $305 if support broken.
Neutral as we enter new ATH territory. Nonetheless, Interesting to see these channels & 200 EMA strength.
One of these channels are correct. Neutral in short-term until proven. Long-term: upside heavily favored.