S+ P Futures " Diamond Coil Compression" Pattern.
S+P Futures have built a "Diamond Coil Compression"
pattern overnight,that could open up quickly to the downside,
if price breaks outside "diamond" support at 2919 ( See Enclosed Chart)
It will take volume to cause the break, so watch the futures carefully,
when NYSE opens for trading on 10/2/18
The pattern is a greater fool pattern,
because traders don't believe that will happen,
so they are buying support at 2919
.
Surprise happens when the pattern breaks bearishly to the downside into thin air.
10/2/18 607 am EDT
THE_UNWIND
pattern overnight,that could open up quickly to the downside,
if price breaks outside "diamond" support at 2919 ( See Enclosed Chart)
It will take volume to cause the break, so watch the futures carefully,
when NYSE opens for trading on 10/2/18
The pattern is a greater fool pattern,
because traders don't believe that will happen,
so they are buying support at 2919
.
Surprise happens when the pattern breaks bearishly to the downside into thin air.
10/2/18 607 am EDT
THE_UNWIND