[SPX] Welcome to Top City... We Are Chillin on the Summit!
Updated
These Topping patterns didn't exist prior to the major Feb 16th peak, now they happen many times a week.
In addition, our earlier H&S tops were much wider than the far narrower tops we've seen since crossing the tip of the giant Bear Pennant.
Keep in mind we never fully broke below, which left the door open for the current run.
Now we're struggling to break the top of this pennant which sits right at 4k.
We're still likely to break under and confirm the Bear Pennant here.
We need to test 3.6k again for the next strong upwave.
Old Megaphone fractals still holding up great here.
In addition, our earlier H&S tops were much wider than the far narrower tops we've seen since crossing the tip of the giant Bear Pennant.
Keep in mind we never fully broke below, which left the door open for the current run.
Now we're struggling to break the top of this pennant which sits right at 4k.
We're still likely to break under and confirm the Bear Pennant here.
We need to test 3.6k again for the next strong upwave.
Old Megaphone fractals still holding up great here.
Note
Just bouncing between the fractals still...Note
This fractal or break through it may be important but stretching a bit here with the limited data...Note
This upwave lookin weak...Note
May be more like this...Note
Last upwave had weak momentum, next downwave already starting...Note
This is the fractal to keep your eye on today...Note
Futures still not impressed despite the exuberance here...Note
Futures struggling to break through this downtrend fractal and on track for another downwave here...Note
Boom, hope you were ready for that Fed announcement, nothing new to get excited about exactly in line with all expectations, just hype...Note
SPX was a great leading indicator for Futures on this move.Note
Had some nice back and forth breakouts eventually heading to top of our Megaphone fractal here...Note
Double top...Note
Falling back to the 1.5Y Peak Channel top fractal...Note
Our faded yellow upchannel there nailed the reversal off the topping pattern breakout AND our red megaphone fractal not to mention the inflection around our horizontal yellow Feb 16th peak fractal.Note
Dropping down level by level...
Data analyst with a passion for best fit lines B)
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