Tuesday, May 9, 2017

Morning Charts 05/09/2017 SPX /es

Two good reads at ZH - 

Fast Facts About Slow Markets

SocGen: Beware The Ghost Of 1993

On to the lie - 

SPX Daily - I may stick with this chart for a while. Pretty plain to see. 


SPX Weekly - I'll throw this in for perspective. Any good turn makes 2120 a great number for major support. Just slightly overdue for a major correction. That would be roughly a 12% move. If this is near the end a cool scenario would be a move to 1890 to form a head, one last bull trap back up to 2120 for a right shoulder then you'd get a HnS that targeted 1380. Ahh, a bears dream right there.

More to come below. 

Have a good day. 

GL and GB!

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