SPX - September Update
Monthly
We have a fresh level coming up.
Below this flip zone as a PCP or Drop base Drop scenario will provide us a clear pathway to the 'Covid lows of 2020'.
Reasoning - original levels needs to be the arrival destination for the buyers.
Weekly
Time frame of interest as a whole as it ignores the smaller pictures.
Shot continue to dominate - the monthly indicates strong wicks which showed reactive buys.
Price will mainly look now to test the weekly and turn the current zone into a PCP zone. (await confirmation on daily).
The zones are clear for profit targets and strong places to hedge buys from these zones.
Four Day
Clears the noise of the daily.
Four day short still active and will continue to sell off (high probability due to the steep curve).
Daily scenarios
Scenario will be either, break and retest - (risk minimized move)
Buy impulse will be an option upon the last buying opportunity as the zone is now tested twice on the weekly and monthly has indicated a strong supply in the case of a BASE within the PCP or DBD scenario.
We have a fresh level coming up.
Below this flip zone as a PCP or Drop base Drop scenario will provide us a clear pathway to the 'Covid lows of 2020'.
Reasoning - original levels needs to be the arrival destination for the buyers.
Weekly
Time frame of interest as a whole as it ignores the smaller pictures.
Shot continue to dominate - the monthly indicates strong wicks which showed reactive buys.
Price will mainly look now to test the weekly and turn the current zone into a PCP zone. (await confirmation on daily).
The zones are clear for profit targets and strong places to hedge buys from these zones.
Four Day
Clears the noise of the daily.
Four day short still active and will continue to sell off (high probability due to the steep curve).
Daily scenarios
Scenario will be either, break and retest - (risk minimized move)
Buy impulse will be an option upon the last buying opportunity as the zone is now tested twice on the weekly and monthly has indicated a strong supply in the case of a BASE within the PCP or DBD scenario.
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