SPX Before Thursday
This looks like a bear flag/triangle or even small range forming before interest rate decision. I am waiting for Thursday so I have not drawn the triangle too tightly.
It would be nice for a break to the downside before Thursday evening but this may not happen. CPI could also influence a move. Low CPI data could move for a retest at 2037 then all will hinge on Thursday night. Break above 1990 should lead to a retest of 2037 area and I am lookling to short at 1895.
I have a very small short at 1966 stop at 2000 target 1900 - 1895 but would think it right to stay out of the market right now.
If rate rise then Target one 1817
It would be nice for a break to the downside before Thursday evening but this may not happen. CPI could also influence a move. Low CPI data could move for a retest at 2037 then all will hinge on Thursday night. Break above 1990 should lead to a retest of 2037 area and I am lookling to short at 1895.
I have a very small short at 1966 stop at 2000 target 1900 - 1895 but would think it right to stay out of the market right now.
If rate rise then Target one 1817
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