Wednesday, July 12, 2017

Morning Charts 07/12/2017 SPX /es

Waiting game - when not if, pretty much just waiting on "the" mistake or the STB event to trigger the collapse. Could be this week or could be years, same story different day rolls along as it has for several years with Team Total Control at the helm. 

On to the lie -

SPX 30m - IHnS targeting 66 still a possibility as price hangs in the middle of the broad consolidation area. Collapse to as low as 2120 is as well. Burgundy channel up with a blue falling wedge working from top to bottom of the channel. Price is currently an island (actually several islands). Price may breakout this morning above blue resistance - if not it could possibly consolidate to 2420 into early next week.


More to come below.

Have a good day.

GL and GB!

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