[SPX] There You Go Folks... Gorgeous 2021 TOP Complete!
Updated
My confidence in this being the top is increasing right in line with the profits from my UVXY call options.
JPow has no incentive to prop the markets with Trump out of power now.
In fact, incentives have reversed. They want this thing to tank hard into mid-terms so they can blame Biden.
What a journey we tracked this beast day by day from that first diamond structure right before the Feb 16th Peak.
These are the moments to live for. I knew we couldn't hold long above the 1.5Y Peak Channel but damn this played out so beautifully.
Thanks to all the people out there feeding in data to dial in this major market inflection.
OG top callers:
markettimer777
glitch420
These guys have been on the case more than anyone and markettimer777 remarkably called Feb 16th peak many months in advance (he also nailed the March '20 low call a year in advance).
Dozens more people were on track here and chipped in valuable data points to paint a clearer picture.
If you've seen me comment on your idea, then your data contributed to mapping this top.
Thanks for all the hard work, keep it up!
JPow has no incentive to prop the markets with Trump out of power now.
In fact, incentives have reversed. They want this thing to tank hard into mid-terms so they can blame Biden.
What a journey we tracked this beast day by day from that first diamond structure right before the Feb 16th Peak.
These are the moments to live for. I knew we couldn't hold long above the 1.5Y Peak Channel but damn this played out so beautifully.
Thanks to all the people out there feeding in data to dial in this major market inflection.
OG top callers:
markettimer777
glitch420
These guys have been on the case more than anyone and markettimer777 remarkably called Feb 16th peak many months in advance (he also nailed the March '20 low call a year in advance).
Dozens more people were on track here and chipped in valuable data points to paint a clearer picture.
If you've seen me comment on your idea, then your data contributed to mapping this top.
Thanks for all the hard work, keep it up!
Comment
The 5m view is always fun, look at that bounce from the 5Y Peak Channel mid-line right up to our Down Megaphone bottom...Comment
Trying to retest 3760 here, look for that rejection...Comment
Like taking candy from a baby...All those SPX 4k Stonks Always Go Up/Don't Fight the Fed Robinhooders gonna have to liquidate their underwater accounts into close lol.
Comment
Still leaning toward a Power Hour liquidation, momo seems to be dying out a bit here, let's see...Comment
Our non-fractal dashed line that by chance became a near perfect fractal line for this downtrend is holding up well here and pushing price back down...Comment
Momentum appears to be dying a bit here but selling pressure still low...Comment
Breaking back under our fractals at 3760 again...Comment
Next test 3.6k...Comment
Nice Higher Low bounce off that fractal, lets see if it can hold...Comment
Here's the up channel we've now established, look for reversal or break above...Comment
Got a bit of a reversal and an important downtrend fractal here too..Comment
We broke above the local down channel trend, next stop is the 1.5Y peak channel mid-line test. A rejection there would form a bearish double top and potentially lead to more downside next week, a move above would indicate that the downtrend has resolved...
Data analyst with a passion for best fit lines B)
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