On to the lie -
OK, tough spot for price and the PTB. We got a situation with major resistance, little support, a market that is trying very hard to roll over, but a major player controlling price that can't let their lies/failures be known.
SPX 60m - Either the PTB wins or a pretty big dump is coming. I've been discussing HnS fomations for a couple of weeks now that have played out and are still in formation. If you look under the 2064 s/r line here you can make out two shoulders (R still in formation) and the head at 2011. You can clearly see the rising blue wedge end and breakdown as the rollover is apparently in play. Everything points down here except for the ST pos divs that exists on all the ST charts.
SPX Daily - Resistance, wedge ends, rollover, HnS - pretty common themes you've heard me discussing over the past month or so. Daily oversold or getting that way. Daily does not require or regularly have pos divs like a top does to reverse (thanks liquidity providers!) I've discussed my desires for a pop-n-drop to set a neg div on the weekly. Again, this may only be a pipe dream and is not necessary, but it would add validity to a top making it more technically sound and thus provide for a more real move south.
SPX Weekly - Still in the rising channel off the '09 lows, but the biggest move sideways and south indicating the bull trend in a decade long bear market is coming to an end. Note the resistance.
Freedom watch -
Nothing here today.
More to come below.
Have a good week.
GL and GB!
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