The S+P 500 has the potential to fall much further than expected.
in sharp drop caused by price technically reentering the prior pattern.
I have been warning you of this possibility,
since the sharp and unexpected break of S+P 3000
after the Fed meeting last week.
Shown here in clear triangle representation,
you can see price reentering the prior technical triangle pattern
BEFORE the upside breakout to all time highs.
In technical analysis, when such an event occurs,
by invalidating the prior breakout to all time highs
the reversal can then gain significant velocity on the downside,
with surprising speed not seen by the crowd
For disclosure purposes,that break back into the prior pattern
occurred when the S+P broke below 2937.50 -2940 on Friday
an area identified with a parallel support trend line
My advise to investors and traders a like, is to get out of the way here.
Downside risk is unknown at this point,
A massive bull trap has been sprung on the very complacent crowd,
and they are not likely to suffer fools gladly, at this point.
SPX Last 2932.05
THE_UNWIND
8/5/19
NEW YORK
in sharp drop caused by price technically reentering the prior pattern.
I have been warning you of this possibility,
since the sharp and unexpected break of S+P 3000
after the Fed meeting last week.
Shown here in clear triangle representation,
you can see price reentering the prior technical triangle pattern
BEFORE the upside breakout to all time highs.
In technical analysis, when such an event occurs,
by invalidating the prior breakout to all time highs
the reversal can then gain significant velocity on the downside,
with surprising speed not seen by the crowd
For disclosure purposes,that break back into the prior pattern
occurred when the S+P broke below 2937.50 -2940 on Friday
an area identified with a parallel support trend line
My advise to investors and traders a like, is to get out of the way here.
Downside risk is unknown at this point,
A massive bull trap has been sprung on the very complacent crowd,
and they are not likely to suffer fools gladly, at this point.
SPX Last 2932.05
THE_UNWIND
8/5/19
NEW YORK