Counting Cash ($SPY) Still Looks Like a Clean Leading Diagonal

Taking out all the time-consuming overnight chop on the futures market and looking at $SPY, it still looks like a clean leading diagonal for 1, and we should be in the 2 now (which can go deep coming off of diagonals). This will invalidate below the mini-crash low:

SPY


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5 thoughts on “Counting Cash ($SPY) Still Looks Like a Clean Leading Diagonal”

  1. I’ve never read so many bearish comments. “RUT headed to pre-covid support” (1900 -> 1700), “the longer we stay in current zone, higher the odds of breaking monday’s low”, etc…. Only good news I can see is Cramer telling viewers to sell their tech to buy oil stocks lol.

  2. With all due respect I disagree with the count, structure looks corrective from monday to FOMC.
    Also big guys haven’t bought the dip on monday.

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