market update

    Posted by matt on 6th of Oct 2020 at 03:46 pm

    As you know my wedge played out perfectly. now what, well here's some charts

    $SPX - Chart Link- 60 min 

    $SPX - Chart Link- 15 min, shows a close up view, so for this wedge has hit target, 75 point pullback off the highs, the previous pullback abc at the back of the wedge was 73 points, so basically symmetry has been met, also note we filled that open gap.

    my one problem here is that this pullback is one wave, no abc, so before all this is said and done we may need to see a b bounce, then a c down.

    and like I said I would like to see the channel lines on the 120 min and 60 min hold

    Nice chart Matt, I was

    Posted by amcap on 6th of Oct 2020 at 08:22 pm

    Nice chart Matt, I was on the look out for the possible break.

    Update: market update

    Posted by matt on 6th of Oct 2020 at 06:59 pm

    $SPX - Chart Link- remember we still have that big open gap below should price simply slice right through the channel line

    Like a MAGNET AND if

    Posted by fredsaid on 6th of Oct 2020 at 08:13 pm

    Like a MAGNET AND if we fill the gap, it makes the inverse H&S more symmetric, assuming that it holds around bottom of the gap.  Looks very plausible.    If it doesn't hold however would like to see the gloom and doom bigger view - which looks unlikely.   I'd like to know good TARGETs to sell USD long, close the EUR short and buy Gold and GBTC.  Dear Matt-rodameous... for xmas this year I'd like :)

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