Parts of this article may be reserved for members. You may learn more about becoming a member on the Join page.
You are also warmly invited to join our growing community in the Discord server (there are many public features in there). The invite link is here: https://discord.gg/58FSjcDhvG.
Good afternoon, traders.
The S&P 500 has slipped through its parallel rails, and has made no real effort to react to its 50-day SMA:
This is a very sloppy decline and all throughout the structure I can see many small triangles and other formations. Last night, I set out to try to simplify the whole structure, to see if I could capture a significant amount of the especially choppy parts into a structure we could understand better, and here’s what I came up with thanks to a few pints of espresso:
So, that’s the plan. We’ll see what happens. I think a bounce remains possible here. And I can justify that technically. I hope everyone has a fine evening.
Parts of this article may be reserved for members. You may learn more about becoming a member on the Join page.
You are also warmly invited to join our growing community in the Discord server (there are many public features in there). The invite link is here: https://discord.gg/58FSjcDhvG.