Your Fault... - Friday, page-15

Good charting @gj0210 and always good work @max48 ...

GJ + MAXI = TANOTFA for SPX .... Have we seen it all before?

Maxi's minor mobile 'neckline'...yes(worked/ing a treat) BUT we still can't rule out a MARTIS Mega neckline OR can we? Again, haven't we seen this before ... OH so similar; in pattern and gradient, mini H & S on top of potential Major H & S P_Pattern, Price vs 50SMA position and MM potential.

"Close_Up" pattern 1 ... Yep, looked just like we probably will be after tonight's action  ... price right at neckline //(for LHS?) and just back above the 50SMA.


"Close_Up" pattern 2(NOW) ... Certain similar; maxi's minor H & S on top of POTENTIAL larger H & S, pattern & gradient...blah, blah, blah ... BUT there's another significant similarity I have not mentioned so far ... BOTH UNCONFIRMED! Having said that, one CAN NOT rule out our MARTIS VIEW ... you see, there are some differences(and concerns/cautions) that one can not ignore with our present pattern. It is well above the 200SMA, well above the GFC high and located after a 6.5year strong uptrend(still intact I might add)so is arguably a question of TIME(for sustainability). Whereas, our previous similar pattern was located in the early stages of an impulse move out from our GFC low, still very much below the GFC High and had respected a recent Golden Crossover(at its neckline)....You will see this clearly with the 3rd chart below.


Those two patterns as part of this 6.5 year up_thrust. You'll note @gj0201 that I have different channel lines to your chart but with similar S/T concerns(price action back at a pivotal trendline).


So TANOTFA's summary ... Certainly can't be a buyer at present levels as I'm still very concerned we will see a multi week pullback(at least) from near present levels ... only 'value' above 2072 will almost but certainly eliminate this outlook.