One quick look at the 30 Min S+P 500 Chart shows
a clear broadening top pattern developing since the Dec 13,2023
Fed meeting, with an obvious loss in momentum as time has passed into the new year.
If this pattern gets busted to the downside, on a move below SPX 4700
falling straight down thru thin air
like an airplane falling out of the sky,
the risk to the pattern would increase incrementally !
I also point out that this same chart
also has an Inverse Bullish Head and Shoulders Pattern
building at the same time, with price rising sharply higher, day after day
as every dip in the market becomes a buying opportunity.
Almost no one thinks that the market will fall substantially,
behind a friendly Federal Reserve Bank,
supposedly on the cusp of cutting interest rates multiple times in 2024.
Rather,
Did anyone see that plane falling out of the sky...?
THE_UNWIND
WOODS OF CONNECTICUT
a clear broadening top pattern developing since the Dec 13,2023
Fed meeting, with an obvious loss in momentum as time has passed into the new year.
If this pattern gets busted to the downside, on a move below SPX 4700
falling straight down thru thin air
like an airplane falling out of the sky,
the risk to the pattern would increase incrementally !
I also point out that this same chart
also has an Inverse Bullish Head and Shoulders Pattern
building at the same time, with price rising sharply higher, day after day
as every dip in the market becomes a buying opportunity.
Almost no one thinks that the market will fall substantially,
behind a friendly Federal Reserve Bank,
supposedly on the cusp of cutting interest rates multiple times in 2024.
Rather,
Did anyone see that plane falling out of the sky...?
THE_UNWIND
WOODS OF CONNECTICUT