[SPX] EMA Ribbon Tightening for BIG SHORT... WTF Gonna Happen?
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While speculating on catalysts is fun, it's exhausting and data isn't so useful.
Better to instead turn to my RSI Wave Model, which did well the last round of predictions.
RSI at all sorts of S/R... 2Y down channel (orange), 1Y downtrend (blue), 3M downtrend (yellow) and minor local wave S/R (dotted). Likely to end up between 30 and 40 the next week or so.
VPT RSI is fighting to reclaim the previous crash trigger line (white) and almost back into bullish range (red dotted line and above). I suspect we're still in process of this recent crash trigger and will see the start of a deeper dip this week.
EMA Ribbon getting tighter and tighter, you can literally see the Wave Action dying out before collapse.
Any climb from here would be wildly unstable.
Pay very close attention to the lines on this chart for reversal points if you're going long:
![[SPX] Mothership Expands Fleet: 2nd RW Fractal Cruiser Spawn B)](https://s3.tradingview.com/a/a9RM1hyJ_mid.png)
Better to instead turn to my RSI Wave Model, which did well the last round of predictions.
RSI at all sorts of S/R... 2Y down channel (orange), 1Y downtrend (blue), 3M downtrend (yellow) and minor local wave S/R (dotted). Likely to end up between 30 and 40 the next week or so.
VPT RSI is fighting to reclaim the previous crash trigger line (white) and almost back into bullish range (red dotted line and above). I suspect we're still in process of this recent crash trigger and will see the start of a deeper dip this week.
EMA Ribbon getting tighter and tighter, you can literally see the Wave Action dying out before collapse.
Any climb from here would be wildly unstable.
Pay very close attention to the lines on this chart for reversal points if you're going long:
Nota
Both RSIs played out as expected, lookin for the bounce back to bottom of channel...
Data analyst with a passion for best fit lines B)
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