In this video analysis, I reviewed the 15min chart and the AD/Money Flow for SP 500 ETF SPY Here is what I've Found
1) Bear Flag 2) Double top 3) Rejection at the 200 MA 4) Stealth Head and Shoulders 5) Bearish Supply Zone by Price Action
Not trading or investment advice. Please do your own due diligence
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I want to be wrong here.. but looks like 140pt drop is possible on futures we'll see
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but I also see how it can be a stealth bull flag forming at the 1.618 fib level
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ES1! E-mini sp500 futures 15min chart
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bulls need to force this bull flag breakout (hidden in that bear flag)
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double top
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shorting the 10yr was the easiest trade which assisted in the market rally. however be cautious of rates rising again.. this is the live chart
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Interest rates could find temporary bottom, unless its a complete breakdown and previous resistances doesn't hold as support
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did some additional charting to prepare for alternative scenarios..
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but at the end of the day we trade what we see..
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if it did manage to get this high, would immediately be looking for a solid base build to form the cup/handle. in which the handle would likely be shorted heavy and invalidated
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rejection
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if the .618 doesnt hold
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loaded puts out the gate w/ time for the expiration date