Spx wedge break overnight
They broke over the wedge on futures, so I expect a retest and then higher.
With Powell speaking today, a sudden spike down could occur but I still think the 18ma weekly and daily at about 3920-3900 would hold the price as support - no guarantees though. There's a gap on futures at 4020 which should get filled soon, from there it's possible we have ANOTHER move down to complete a triangle or we just get that higher wave 5 over with. These events are hard to anticipate, so please be careful.
I'll be away from my desk today, good luck!
With Powell speaking today, a sudden spike down could occur but I still think the 18ma weekly and daily at about 3920-3900 would hold the price as support - no guarantees though. There's a gap on futures at 4020 which should get filled soon, from there it's possible we have ANOTHER move down to complete a triangle or we just get that higher wave 5 over with. These events are hard to anticipate, so please be careful.
I'll be away from my desk today, good luck!
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close up of wedge, maybe test is over, hard to tell before open.
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green trendline resistance needs to be overtaken by bulls
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last push up confirmed, Probably push into tomorrow but not much farther.
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expecting resistance at the high of the breakdown candle - 4100ish
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4 hr rsi from the very lows to the very highs in about 3 hours, a warning sign that this pump will not hold for long.
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economic numbers tomorrow at 830 us.econoday.com/byweek.asp
