first target is $3555, This can cascade to the breakdown of the ascending triangle whose target is $2580. Final destination is support of the cone at 2055 which will make this a second black swan event.
There are multiple reasons for crashing the market, some of it political, but most outstanding is historical unprecedented open interests in option calls. They pushed the spx to $3777 to make these calls more expensive and now they will send them to zero.
I will leave a link in the comments for the option call graph.
There are multiple reasons for crashing the market, some of it political, but most outstanding is historical unprecedented open interests in option calls. They pushed the spx to $3777 to make these calls more expensive and now they will send them to zero.
I will leave a link in the comments for the option call graph.
Commento:
Wedge retest. A break back into the wedge will invalidate the wedge, rejection will strongly validate the wedge and wedge targets.
Commento:
Small rejection at the wedge retest before closing. Let's see what it will do today.
Commento:
broke back in. Can turn super bullish and start a massive pump. Must watch carefully for the next days. This is a serious deciding period in stocks.
Commento:
Channel confirmed, question is it a bearish or bullish channel, Bearish divergences keep accumulating but I guess they are meme now.
