midflyer

midflyer Updated 

In my last post I outlined the potential of a near-term breakdown of price action as the SPX was moving in a Bearish pennant consolidation pattern, The SPX has now developed into a more classical bear flag continuation pattern. We can see that the downwards trendline is holding price action, and that the bearish pennant has turned into a more typical bear flag...

midflyer

Spx is in a classic consolidation bear flag pattern in my opinion whilst being resisted off the 50 day SMA, We've had low volume over these last two weeks which is characteristic of such a pattern signalling the end of the consolidation period, I expect a gap close to fib level 0.786 (3863.88, 3865 approx) and then a crash. Price action will be resisted off of...

midflyer

Trendlines + fib, (level 0 as predicted bottom) + reg line + ema ribbon

midflyer Updated 

These are my predictions for SPX movement, displayed support and resistance levels as sell respectively buy

midflyer Updated 

SPX has fallen yet again, will reach resistance line, before gaining som short-term traction again. Will sell shorts at resistance line and buy it up again when it bounces

midflyer

With my belief that a pretty big recession is incoming using fib levels, my thoughts are that the spx will retract to the golden ratio marking the low of this economical super cycle. SP:SPX