[SPX] RW Fall and Retest Fail... 2H Perfectly Validated RW TIP!
Diupdate
Well there you go, our trading range comes down to this thin little strip of Hyperspace turf known as the 5Y Peak Channel.
The 5Y growth channel angles above the 11Y and 18Y and 38Y growth trends just as the 1Y (newly added and yet to be revealed!) angles above it. Price has yet to escape this channel in the past 5Y, this channel captures all peak between then and now.
Price has never gone above this line, which in effect is average growth rate at the very peak points of Value in the past 5Y.
The new magenta lines here represent the 1Y peak channel since the bottom of last year's correction. The dotted one is the mid line of this quite wide peak channel but upper bounds are 3700 and 3800 almost to the dot here so this further validates a lot of the bull ideas on here pointing to those peaks points.
Anything above that is beyond the realm of logic and probably only has an outside chance.
I still think 3680 is the most likely peak here. Basically a 30 point blow off top Monday to correction at the end of this RW.
Lets see what next week has in store for us! B)
Here's the 2H:
The 5Y growth channel angles above the 11Y and 18Y and 38Y growth trends just as the 1Y (newly added and yet to be revealed!) angles above it. Price has yet to escape this channel in the past 5Y, this channel captures all peak between then and now.
Price has never gone above this line, which in effect is average growth rate at the very peak points of Value in the past 5Y.
The new magenta lines here represent the 1Y peak channel since the bottom of last year's correction. The dotted one is the mid line of this quite wide peak channel but upper bounds are 3700 and 3800 almost to the dot here so this further validates a lot of the bull ideas on here pointing to those peaks points.
Anything above that is beyond the realm of logic and probably only has an outside chance.
I still think 3680 is the most likely peak here. Basically a 30 point blow off top Monday to correction at the end of this RW.
Lets see what next week has in store for us! B)
Here's the 2H:
Catatan
Here's the bigger perspective...
Data analyst with a passion for best fit lines B)
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