$SPX - Chart Link- UPDATED this SPX 120 minute
chart from last Thursday now showing 5 waves down completed today.
Under this view could have a small degree wave 3 move up
tomorrow to retrace at least part of the recent decline (so around
50%) depending upon CPI data.
ES downtrend line around 4020 to recapture first - a clear
failure to rally opens the door to a retest and a move down below
3840-3900 on ES next support.
SPX Views
Posted by steve on 10th of May 2022 at 05:37 pm
$SPX - Chart Link- focus for now on the first 2 short term charts (falling wedge 15)
$SPX - Chart Link- today's bounce and pullback held .618 Fib
$SPX - Chart Link- UPDATED this SPX 120 minute chart from last Thursday now showing 5 waves down completed today.
Under this view could have a small degree wave 3 move up tomorrow to retrace at least part of the recent decline (so around 50%) depending upon CPI data.
ES downtrend line around 4020 to recapture first - a clear failure to rally opens the door to a retest and a move down below 3840-3900 on ES next support.
Well the market was up
Posted by steve on 11th of May 2022 at 09:16 am
Well the market was up nicely ahead of the CPI data - and now back to test recent lows as stated last night
I think we are going
Posted by kobie on 11th of May 2022 at 09:17 am
I think we are going higher here....bear trap?
Yes I think it was
Posted by lamb on 11th of May 2022 at 09:19 am
Yes I think it was only a first blush reaction!