S+P 500 30 Minute Chart,with the 3 Box Indicator,
( Chart Shown) reveals a "Double Bottom" Breakdown from SPX 3110
Price however did find very important support at SPX 3070,
so the technical evidence is mixed short term.
30 Minute 3 Box Indicator Box shows the potential
for a rally back to SPX 3110- 3115
The VIX peaked at 17.93 today,
just below the important psychological "fear" induced level of 18
as the market rallied back from morning lows.
A potential peak in volatility could thus already be in place.
This is a traders market,so barring any unforeseen surprise
look for the bulls and bears, to trade support/ resistance back up to 3110,
the origin of chart pattern breakdown.
THE_UNWIND
12/3/19
NEW YORK
( Chart Shown) reveals a "Double Bottom" Breakdown from SPX 3110
Price however did find very important support at SPX 3070,
so the technical evidence is mixed short term.
30 Minute 3 Box Indicator Box shows the potential
for a rally back to SPX 3110- 3115
The VIX peaked at 17.93 today,
just below the important psychological "fear" induced level of 18
as the market rallied back from morning lows.
A potential peak in volatility could thus already be in place.
This is a traders market,so barring any unforeseen surprise
look for the bulls and bears, to trade support/ resistance back up to 3110,
the origin of chart pattern breakdown.
THE_UNWIND
12/3/19
NEW YORK