SPX500 has just hit a massive resistance zone.
Cluster includes Genesis, Covid, and other fibs.
Expecting a reaction here, perhaps a local top?
5109 - 5166 is the exact zone of interest.
4896 - 4901 is the first good support below.
5429 - 5493 is next major resistance above.
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Cluster includes Genesis, Covid, and other fibs.
Expecting a reaction here, perhaps a local top?
5109 - 5166 is the exact zone of interest.
4896 - 4901 is the first good support below.
5429 - 5493 is next major resistance above.
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Komentar:
Here we are again:
Tickling the bottom bound of our resistance zone, just before US open on a Friday
Zoom IN (15min)
Not quite a touch (yet) like last push, lets see with US session today does.
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Tickling the bottom bound of our resistance zone, just before US open on a Friday
Zoom IN (15min)
Not quite a touch (yet) like last push, lets see with US session today does.
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Komentar:
Here we are:
Nestled up against our major fib at 5137.4
Zoom IN (m5) for a closer look
Zoom in MORE (m1)
And there it is, a PING (exact ricochet from fib that you almost HEAR).
And my rule about Pings:
"Not all Pings start a Reversal,
but Most reversals start with a Ping"
So we await the US session on a Monday to make the decision.
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Nestled up against our major fib at 5137.4
Zoom IN (m5) for a closer look
Zoom in MORE (m1)
And there it is, a PING (exact ricochet from fib that you almost HEAR).
And my rule about Pings:
"Not all Pings start a Reversal,
but Most reversals start with a Ping"
So we await the US session on a Monday to make the decision.
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Komentar:
Lookin"Toppy"
Zoom IN (m15)
Now watching bottom boundary for possible support, at 5109.50
Let's see what US session does in 8 hrs from now.
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Pierced briefly but quickly rejected below Zoom IN (m15)
Now watching bottom boundary for possible support, at 5109.50
Let's see what US session does in 8 hrs from now.
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Komentar:
The dance continues
back in the zone testing the boundaries.
Zoom IN (5 min)
And we see PERFECT fib bounces top and bottom of zone.
Zoom in MORE (m1) and add a fib for the last dip (in red lines)
this wave has reinforced our existing fibs.
our Genesis fib at 5137 backed by local 2.618,
our Covid fib below at 5109 plus local 6.236.
So we now have a precisely defined range to watch today
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back in the zone testing the boundaries.
Zoom IN (5 min)
And we see PERFECT fib bounces top and bottom of zone.
Zoom in MORE (m1) and add a fib for the last dip (in red lines)
this wave has reinforced our existing fibs.
our Genesis fib at 5137 backed by local 2.618,
our Covid fib below at 5109 plus local 6.236.
So we now have a precisely defined range to watch today
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Komentar:
Follow up to last image above, rejection at the 5137 genesis fib
See if we test it again, this is a "high gravity" fib so we might orbit it for a while
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See if we test it again, this is a "high gravity" fib so we might orbit it for a while
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Komentar:
Starting to look a little scary for bulls
clearly stuck in our resistance zone still, and wobbling like tops tend to do....
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Zoom in (m30)
Possible "double-Ping top" at a minor fib just above our zone.
"PING" = exact ricochet from fib that you can almost HEAR.
.
Zoom in MORE (m5)
The main fib of this idea at 5137 clearly the center of gravity here.
Looks like we are about to test it again during Asian session.
Speaking of Asia, we might have big news in a couple hours:
Bank of Japan is expected to raise rates for the first time in like forever,
so many traders are on the sidelines waiting for the decision in a few hours...
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clearly stuck in our resistance zone still, and wobbling like tops tend to do....
.
Zoom in (m30)
Possible "double-Ping top" at a minor fib just above our zone.
"PING" = exact ricochet from fib that you can almost HEAR.
.
Zoom in MORE (m5)
The main fib of this idea at 5137 clearly the center of gravity here.
Looks like we are about to test it again during Asian session.
Speaking of Asia, we might have big news in a couple hours:
Bank of Japan is expected to raise rates for the first time in like forever,
so many traders are on the sidelines waiting for the decision in a few hours...
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Komentar:
Here we are again at our major fib at $5137
Zoom in (m1)
Genesis Fib at 3431 was pierced but trying to recover.
We might get a partial/all retrace of the red candle,
but that pierced fib implies we go lower at some point.
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Zoom in (m1)
Genesis Fib at 3431 was pierced but trying to recover.
We might get a partial/all retrace of the red candle,
but that pierced fib implies we go lower at some point.
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Komentar:
Another test, this time a PING
Ping = exact reflection from fib that you can almost HEAR.
This is bulls' best chance to end the pullback.
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Ping = exact reflection from fib that you can almost HEAR.
This is bulls' best chance to end the pullback.
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Komentar:
Here we are yet again, 5137
.
Zoom in (m5) and adding a fib (purple) of last drop
Zoom in more (m1) with purple fib in place and levels flipped to right side
Looks like the 0.236 extension of our purple fib is reinforcing our Genesis fib at 5137.4
So 5137.4 is even MORE important now,
if it is broken after being reinforced,
bears will have proven to be alive still.
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Zoom in (m5) and adding a fib (purple) of last drop
Zoom in more (m1) with purple fib in place and levels flipped to right side
Looks like the 0.236 extension of our purple fib is reinforcing our Genesis fib at 5137.4
So 5137.4 is even MORE important now,
if it is broken after being reinforced,
bears will have proven to be alive still.
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Komentar:
And again back to 5137
Zoom in (m5) and compare yesterday's test
This fib might be spent as support,
yesterdays bounce was clean and violent,
todays bounce is anemic (dead cat ish).
Zoom in more (m1)
Subsequent fib bounces are a good sign,
5153.9 the minimum bounce needed,
516x.x might buy some time for bulls.
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Zoom in (m5) and compare yesterday's test
This fib might be spent as support,
yesterdays bounce was clean and violent,
todays bounce is anemic (dead cat ish).
Zoom in more (m1)
Subsequent fib bounces are a good sign,
5153.9 the minimum bounce needed,
516x.x might buy some time for bulls.
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Komentar:
Danger Will Robinson, DANGER !!
Shields breached, prepare for turbulence!
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Shields breached, prepare for turbulence!
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Komentar:
Followup to last snap above:
Danger indeed! Should have some support at 5109..5.
The dashed fibs are from its Covid Stimulus wave.
Likely bottom for today, see if we get much of a bounce.
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Danger indeed! Should have some support at 5109..5.
The dashed fibs are from its Covid Stimulus wave.
Likely bottom for today, see if we get much of a bounce.
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Komentar:
Followup to last update, which was looking for a bounce:
We got a little bounce back up to our Genesis in at 5137
Current time is about 12 hours before US open on a Monday.
See if Asia/Europe can hold this area until US decides next direction.
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We got a little bounce back up to our Genesis in at 5137
Current time is about 12 hours before US open on a Monday.
See if Asia/Europe can hold this area until US decides next direction.
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the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag
the Trading View is my Nation
the Moderator Tag is my Flag
That ldashed ower bound fib is from the "Covid Stimulus" wave, here is the full view
For better clarity, here is the same fib with solid lines, and "Pings" shown
The many Pings thus far give us confidence in the sister fibs.
So even though we have NEVER been here before, we could still project THIS precisely:
Thus my continued AWE of the Golden Ratio,
and thus my desire to SHARE this discovery.
Nest we will try to project some targets for the pullback if this is for real.
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