Thursday, February 21, 2019

Morning Charts 02/21/2019 SPX

This is good news - would never have seen this under Oshithead - US Supreme Court Rules To Limit States' Ability To Seize Property, Impose Fines

Good vs Evil folks - don't forget. Lot's of really disgustingly bad people out there running the show.

On to the lie -

SPX 60m - OK, looks like we've reached that point in time where some sort of decision needs to be made. Pretty simple getting here. STB called it all the way - IHnS to target, wedge breakdown to form rising channel, boring rise into resistance. Along the way we met a much larger IHnS that may still be in play, but not much else. Pretty basic stuff. NOW, are we about to reverse and have a measurable pullback - say 200 SPX or 2000 DOW points? Form a massing RS for an even bigger IHnS? Could be. In that process does price consolidate below here for a bit? That would be rather convenient. It needs a breather. With Russia probe ending and anywhere from 9 to 20 possible indictments coming next week - the markets may get rocked a bit. I'm gonna remain calm and let them tell me what to do. Follow the Fed - that's the only rule. Bottom line is we've reached a point where a bigger correction or pause is due, but .... it's their market, so ...

More to come below.

Have a good day.

GL and GB!

No comments:

Post a Comment

Keep it civil and respectful to others.