SPX 5m.. messy orange H&S 5m.. new neckline.. lower target 2035ish fwiw.,.. another not pretty hourly 7m to go .. SPX open gap getting closer 2042-2038
nikman, this small bounce was only for intraday and it faded immediately (resp in a matter of a few minutes).
For the near future I have no idea - I plan to take a few days off over New Year and I'm not looking at any swing trades or longer term commitments at the moment.
nikman wrote:Just a bounce or is there more to it, Uempel! Thanks for the update on your ellipses. There seems to be a major intersection coming up today/tomorrow, it seems? But it involves, piercing the black center line momentarily. How bad would that be in a thin volume trading?
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bear case.. another H&S SPX 5m.. fromDec 22.. RS here.. 2045 goes, and new LOD.. look for 2020 - 20w 2022 range SPX 5m.. vs SPY 5m invs H&S.. RS needs to hold 204.25
what a pretty dome. if we test that red arrow area (2030ish?) again,
scenario A:
doesn't hold on 4th test, would make sense for it to complete the IHS pattern before a good bounce, red line becomes resistance?
B: it's a trap...
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