Spx500forecast
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
SPX 500 analysis simiar to NASDAQ, it too needs ti sustain above 20 september highs to turn Bullish from curent bearish trend !
If one Observe carefully, they will find that despite the counter breaching 20 and 50 EMA levels, in last 3-4 cases, despite there was no NEGATIVE crossover like its seen recently
thats worrisome
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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