triggered. 130.30 or so is the target.

Also, conforms to a Bollinger Band squeeze breakout and consolidation before moving higher.

Possible inverse head and shoulders on 10 min chart?

Ah, I think I am mixed up. SPX is not backtesting the first break of this trendline - it had already broken it then regained it once. So, as Rosanna Rosannadana would say, never mind!

I think so - because it's been too long since the original breakout for this to be the backtest.

Also, I traded the morning high successfully for a short trade, but that was off a 5 minute chart, and I closed that.

Sure. But also trying to make sure I understand the 3-bar back test approach you have taught.

Steve: attached is a 2-hr SPX chart. Where I have the circle, we are almost finished with a 3-bar backtest confirmation of the break below the uptrend line. My understanding from your approach is that at 2 pm when the current candle closes, it acts as confirmation if it's a neutral to bearish type of candle, right? I am looking for an objective short since the market has broken the uptrend line.

The first 10 ten days of April are, on average, flat, according to data I posted a few days ago. That plus your overall analysis has me very cautious here, and looking for a low risk trade.

Roger

SPY volume patterns on the 15 minute chart are bullish as well.

Since symmetry breaks are a clue to reversals, and since the up move broke symmetry to the upside, shouldn't we be looking for a higher low (arguably we got it)?

 ah, right. interesting that the SPX has all the moving averages overhead but the NYSE has cleared them all on this morning's move.

looks like a good call -

Lol!

I love it when you say that, gives me goose bumps!

typical: move is to the upside, and is beginning to look like a 5-wave impulse, unless it's a long C leg.

Steve, SPX ABC target to the upside met and exceeded on my chart. I guess we should be watching for a reversal now, if it's an ABC. Of course, this could be a 3.

Steve, how do you view such moves in terms of a test of support on the cash index? I.e., do we view the futures plunge and recovery with about as much weight as a cash move?

A different count (SPX, not NYSE, though he does NYSE on some days):  http://www.pretzelcharts.com/

Already out! 1/3 yesterday, the rest today mid-afternoon.

Flat.