[SPX] BEWARE the Ghost HEAD... Still Holding 1M H&S Structure!
It's hangin by a thread but the Right Shoulder breakout is still contained within a 1M H&S Head Fractal aka Ghost Head.
Watch yourselves out there! Conditions may just be about to get even rougher.
Watch yourselves out there! Conditions may just be about to get even rougher.
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Don't forget about the Futures...
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Back up to magenta, lets see if it breaks through or rejects, overall still pretty bearish...Note
Fractals holding well...Note
These new red and yellow dotted fractals are key inflection points to keep an eye on if we're going higher, otherwise you can watch it ping pong to a new low...Note
Red dotted is a broader down megaphone bottom fractal that fits nicely along the top here.Note
Ghost head moment of truth...Note
It's trying to test the op of 1.5Y Peak Channel again, how it reacts there will make the next move more clear...Note
Fractal rejected with some space and avoided the touch, typically bearish...Note
Keep an eye on the iterating topping fractal inflections...Note
Keeps getting stuck here, let's look out for breakthrough or rejection again...Note
Tested the next dotted fractal...Note
New topping fractal rejected Price today...Note
Upchannel fractal held very nicely here, we're in No Man's Land, notice the gap over our red megaphone fractal, this is all lookin pretty precarious...
Data analyst with a passion for best fit lines B)
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Data analyst with a passion for best fit lines B)
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.