S&P 500 (ES1) waves, trend lines, channels, wedges
More and more TA goodness. Looks like we are getting really close to the end of this counter-wave. A lot of signs of a correction coming, but it still feels a bit too early. I was wrong on the rebound timing so take all of this with a grain of salt. Looks like there are 2 possible options IMO.
1) We are at the top and stuck at the 0.618 fib level.
2) If it breaks the 3433 level the next resistance is 3500 exactly at that 0.786 fib ext. This would complete a nice ABC counter-trend corrective wave to the drop off the ATH. It would be a FOMO style breakout of both the trading channel and March S/R line, just like it did for its ATH.
Hope it helps. Good luck.
1) We are at the top and stuck at the 0.618 fib level.
2) If it breaks the 3433 level the next resistance is 3500 exactly at that 0.786 fib ext. This would complete a nice ABC counter-trend corrective wave to the drop off the ATH. It would be a FOMO style breakout of both the trading channel and March S/R line, just like it did for its ATH.
Hope it helps. Good luck.
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Look at this afterhours BS. Spiked to 1.5 fib level at 4:30.
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9pm -- Rallied to the 1.5 fib level starting at 4:30pm.
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Melt up time?
