SPX dips from PRE-Mapped Resistance at a "Top". Now what?

Update to my bigger picture Map of a Possible Top (click).

This is a look at the drop thus far, and some updated zones.
It seems we have had two distinct waves down, per the Fibs.
This post is just before Monday NY open, so a key moment.

It is POSSIBLE the dip is "done" with that ABC.
It is LIKELY that we see a bounce at NY open.
It is PLAUSIBLE that we see another leg for C.

What is INTERESTING is how "news" comes at key "technical" moments.
NOT to say the "virus" news is faked/timed, but the "Marketing" of it IS.
This happens in all markets and makes one wonder about "Manipulation".

But for those of us studying the technicals of this market, this dip is no surprise.
The "cause" was unexpected, but the market was already preparing for a dip.
What happens today, Monday, in NY session, may have long term ramifications.

ความคิดเห็น:

NY Open Bounce as expected.

We have a significant bounce as predicted

a small stab BELOW the support zone (stop hunt) then the bounce.

Will be measuring this bounce for further clues as to direction from here.

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ความคิดเห็น:

Early look at the Bounce.

Putting a fib on the bounce

sketchy but possible.
That 1.618 rejection MAY imply a "Corrective" bounce only, not an "Impulsive" bounce

But too early to make conclusions ....

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ความคิดเห็น:

at First Resistance

Here we are at the first and strong resistance zone

.

Zoom way IN (1 min) for a close look at the action in that zone

.

Looks like it will break above, but lets see.

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ความคิดเห็น:

1st Resistance Broken

But now at possible wave end

lets see how this reacts

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