AMEX:SPY in Pink the over lay from 2008 crash, Incredible how fast this crash has taken compared to 2008.
Looking back at last big falls for the data we have access too, Not a major sample size, But seems around 50% falls based on last 2 big sell offs in 2000 and 2008. We're currently at 40%, And at a point that bounced in the past. This has been a considerably faster fall too, will it be bigger, smaller?? We are all waiting?
Copper often a good indicator of equities direction, and is showing signs of potential reversal. Could be the positive sign needed for equities to go long. Watching closely
From the chart this Support level which dates back 90's. If buyers don't step in here we could call this a failed breakout and could see it return much further down. Keeping an eye on this one.
SMT has had a great rip up. It's due a pull back and providing market structure remains in place, I'm hoping to take the opportunity to get long.
If we see pull back to either of these levels RR who is good for me to go long.
If this line holds I'll put on a small long
My personal plan for week ahead. Only take it break of repeatedly tested line breaks and leaves opportunity for short on the retest.
Watching levels, Confluence at recent break high, If holds potential long
On Hourly my plan for small trade GBPUSD
Looking to see if consumer staples relative to S&P start to break out which would support breakdown in US equities.
Watching to see if this base holds
Waiting for signal, If breaks this level I will buy re-test, Alternative play for failure of level.