Loading ...S&P Rollover May Be Starting
Looks right on cue…..
These are levels I’ve been watching on the SPY 5-min. Let’s see if blue line gets broken today.
Looks like rotation to bonds may have started now with this TLT wedge breakout. Waiting on SPX flag breakdown and confirmation of double top.
Watching a possible test of 1991 then one more thrust up to test 2040 before the drop. Just keep this in mind…
Yikes..that would suck
Thanks. nice SPX chart. And agree, TLT is on the move again, this time I think it will make it up to the inverse h&s neckline.
I’m with Eagle, roughly speaking.
VST sell underway NOW …. but it should be corrective.
Another leg up that COULD complete late this week.
I’m not sure yet if we top next week or the week after.
FGC in EW terms, this current move in the SPX looks impulsive. Also, per Caldaro ST, “thus far Int. iii has rallied to SPX 2020 in just one wave from the SPX 1976 Int. ii low. There should be five waves up before it concludes”. This is the reason we need to watch the reaction at these important pivots. Remember IF the SPX is in P5 before trekking to 2200 plus 2040 needs to breach…Think of this thing in waves of energy, with each successive wave building on the other…I let the EW masters help me along. Then, let us not mention the alternate counts :-). The thing here is getting the feel or even a vague understanding behind the EW methodology. Confirmation no matter the possible moves, is ALWAYS validated by our momentum indicators. Hence, using the stoch 144 on the 15 minute chart amongst all the others…
Also, per my SPX chart. 1867 SPX needs to breach for a continuation down in the markets.
http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=1&mn=0&dy=0&id=p50284179749&a=371434369&listNum=1