$SPX - Chart Link - with the symmetry
break, for now odds still favor for this to form a higher low. You
can see where the 9 EMA on the MA ribbon came up to tag the 20 EMA
yesterday, so not surprised we got some retracement on
price,
$SPX - Chart Link - note the Fibs on the
15 min chart as a guide, so far we've retrace 38% of yesterday's
move, I would not want to see it retrace more than 61.8% and really
even more than 50%
$SPX - Chart Link - on market here, the
best bet for the 'bulls' would be that it completed an ABC at the
last lows. If someone was long, stops could be below that
$SPX - Chart Link - I think we had a
pretty good call on that ABC correction today when cnbc and a lot
were worried about the market giving all the gains back and
emotional. We said that if the 61.8 Fib area held, this could be an
ABC, and with yesterday's symmetry break odds favored a higher low,
and that all played out
Matt your views with explanation is excellent idea. Please
do not just leave with views, always give explanation for dummies
like me, just for reference purposes.
SPX 30 and 15 min
Posted by matt on 27th of Dec 2018 at 09:59 am
$SPX - Chart Link - with the symmetry break, for now odds still favor for this to form a higher low. You can see where the 9 EMA on the MA ribbon came up to tag the 20 EMA yesterday, so not surprised we got some retracement on price,
$SPX - Chart Link - note the Fibs on the 15 min chart as a guide, so far we've retrace 38% of yesterday's move, I would not want to see it retrace more than 61.8% and really even more than 50%
Update: SPX 30 and 15 min
Posted by matt on 27th of Dec 2018 at 02:44 pm
$SPX - Chart Link - on market here, the best bet for the 'bulls' would be that it completed an ABC at the last lows. If someone was long, stops could be below that
Update: Update: SPX 30 and 15 min
Posted by matt on 27th of Dec 2018 at 07:56 pm
$SPX - Chart Link - I think we had a pretty good call on that ABC correction today when cnbc and a lot were worried about the market giving all the gains back and emotional. We said that if the 61.8 Fib area held, this could be an ABC, and with yesterday's symmetry break odds favored a higher low, and that all played out
Matt your views with explanation
Posted by nichi on 27th of Dec 2018 at 03:42 pm
Matt your views with explanation is excellent idea. Please do not just leave with views, always give explanation for dummies like me, just for reference purposes.
Update: Update: SPX 30 and 15 min
Posted by matt on 27th of Dec 2018 at 03:19 pm
$SPX - Chart Link - updated view, nice trade on that abc so far.