S&P 500 breaks below regression channel!

27 thg 1, 2021

I have been posting a lot about tops this last week or so. The percentage of the drop today is not massive, but it was enough to break below the regression channel. This was not a test from what I can tell. This is the clear sign a correction is in progress. This looks like it would be a Wave A and we could see a bounce tomorrow for wave B. No matter what, this looks like it will change the slope of the rally to be flatter or could be the sign of large correction.

28 thg 1, 2021

Ghi chú

A few more charts of ideas.

channels


wedge patterns


fib levels


channel + fib


wedge + fib


all (if you can read it)

28 thg 1, 2021

Ghi chú

Quick rebound back to the bottom of the channel. Lets see where it goes from here.

29 thg 1, 2021

Ghi chú

Good rally today got us back up and into the channel, but then dropped in the afternoon to close below.