[SPX] Welcome to Top City... We Are Chillin on the Summit!
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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.
Nota
Just bouncing between the fractals still...Nota
This fractal or break through it may be important but stretching a bit here with the limited data...Nota
This upwave lookin weak...Nota
May be more like this...Nota
Last upwave had weak momentum, next downwave already starting...Nota
This is the fractal to keep your eye on today...Nota
Futures still not impressed despite the exuberance here...Nota
Futures struggling to break through this downtrend fractal and on track for another downwave here...Nota
Boom, hope you were ready for that Fed announcement, nothing new to get excited about exactly in line with all expectations, just hype...Nota
SPX was a great leading indicator for Futures on this move.Nota
Had some nice back and forth breakouts eventually heading to top of our Megaphone fractal here...Nota
Double top...Nota
Falling back to the 1.5Y Peak Channel top fractal...Nota
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.Nota
Dropping down level by level...
Data analyst with a passion for best fit lines B)
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