S&P 500 Chart Update - SPX is currently trading at 5394
- We saw SPX printing major bearish candles
- SPX can go lower and we can easily see it making new lows
- CPI and FOMC rate decision on radar to flip this bearish bias
- Stock markets have crashed a lot this week expecting a dead cat bounce to trigger further sell offs
Spx500analysis
spx fake flag ? dont get trap4200 has confirmed as new base and good support for medium time frame (1h)
after the retest price followed and formed higher high and higher low
currently halting near 4400-4300 zone price seems to consolidate
many of us looking it as flag and pole and will look to buy on trend continous
as a fib retracement there is possible less probablity to gain good risk to reward on long side
rather let price retrace from 4450 - 4460 zone and look for buy on pullback
Crash Ahead !!!Upper part of an Gramophone Pattern
E 3823
sl 3865
T trail
if the prices start to move down it could crash 50%.
Reason to go Shorts:
Upper part of the big picture Gramophone Pattern
Prices are into Weekly Supply zone
May Form the Head and Shoulder Pattern.
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