XSP: Elliot C Wave Correction Put
6 week trade: Expecting the C Wave to complete the 1.618 Fibonacci Extension to the downside. Stop sell set at high of 5/3 @ $514.
S&P Poised to Break Resistance XSP on the 4H, price action reacted off the 9SMA and support trend line with the MACD getting a confirming positive cross over by EOD. Along with news that a budget deal was reached, the SP is poised to punch through a resistance area that showed rejections the over the past two weeks.
XSP/SPY...probably pullback followed by upward trendJust sharing what I see...could go up, could go down.
Couple of things to be aware of...RSI is saying overbought, MACD looks like it's peaking, we have a falling wedge still playing out from 2022, and a double top forming. There's a gap up from around Nov 17th. Some pretty squished candles on Wed/F
And just a pinch of XSPGood morning, probably, where you are.
So it appears that charts have patterns. And those patterns mimic ones found from other sources. Such as this image by an artist known as "Kadey", that has been floating around Reddit. These patterns line up because charts are part of existence, and they follow
S&P Mini 500 : the end of the bullish channelWatch out for the breakage of the support line of the bullish channel. probable potential triangle space.
U.S. Earnings June 29 - July 03 Optionable Plays U.S. Earnings June 29 - July 03
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Displays a symbol's price movements over previous years to identify recurring trends.