[SPX] Cash Session Ain't Got the BALLS... RW Breakout Fail!
Updated
We got a nice RW extension, it's now 1M big... about the size of the other two when Price collapsed.
I still am looking for a clear 3680 break and hold before expecting any real Bull move.
Right now it's just algos pocketing money from both Retail Bears and Bulls on overnight gapups lol.
They get 80% of the move in one fell swoop and sell off at the top of the small cash session run up.
Like taking candy from a baby... don't let them screw you!
Anyway we got an epic 3 x FW breakout and blew right through the old RW but it setup the perfect 1M RW extension with the new Price action.
Price also collapsed out of a smaller RW before being caught by the 1M one. The tip of this RW should be very interesting!
Market aint outta the woods till Price clears this structure definitively.
I still am looking for a clear 3680 break and hold before expecting any real Bull move.
Right now it's just algos pocketing money from both Retail Bears and Bulls on overnight gapups lol.
They get 80% of the move in one fell swoop and sell off at the top of the small cash session run up.
Like taking candy from a baby... don't let them screw you!
Anyway we got an epic 3 x FW breakout and blew right through the old RW but it setup the perfect 1M RW extension with the new Price action.
Price also collapsed out of a smaller RW before being caught by the 1M one. The tip of this RW should be very interesting!
Market aint outta the woods till Price clears this structure definitively.
Note
It's trying to breakout above the primary uptrend but just too overbought to do much right now. Needs more time or less price first...Note
Wedge is clamping down...
Data analyst with a passion for best fit lines B)
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