Friday, March 24, 2017

Morning Charts 03/24/2017 SPX /es

When the drop starts everyone will panic at the same time, this was just a taste. Those sneaking out the crack in the door here may be the trickle before the big rush - Biggest US Equity Outflows Since Brexit; US Banks Hit The Hardest. The big questions are - Will the PPT be able to stop the fall or will they even want to stop the fall? 

Will Healthcare failure drop the nuke on the Trump rally? All Eyes On Washington: US Futures Rise On Hope Healthcare Vote Will Pass

On to the lie -

SPX 2hr - What happens if support cracks here? The elevator more than likely falls to 2277 - 2270 after a brief stop at the 2327 and 2311 areas mentioned earlier (my second target after 2340 on this trip south). 2190 and then 2120 are very notable support points as it progresses south. IF typical major fall form holds - the new red falling channel turns into a falling wedge and then that turns into an even steeper falling wedge.


More to come below.

Have a good day.

GL and GB!

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