.SPX: What's Going on Next?
Hello everyone! Today i want to share some technical analysis with you!
1.
Alternate Count: $.SPX(.SPX)$
(1) my primary count points to a very bearish development in next few sessions to stretch the leg downwards;
(2) however, today's rebound has more leaning toward a larger sideway moves, extending to 1/7 or later.
(3) the roadmap is NDX's 1-hour--same as SPX.
2.
H&S at 5-min chart:
(1) SPX may have formed a smaller H&S at 5-min chart;
(2) after breaking the shoulder line, today's rebound touched that line again--see the black arrow--then rejected so far.
(3) if close below this line, the nominal target would be 5800-20--lower than 5832
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