.SPX: This Type and Structure is CRASHY
Hello everyone! Today i want to share some trading ideas with you!
1
$S&P 500(.SPX)$Indeed, "gap down and touch 6430" -- the target that I marked on the chart for some time.
There is a lower gap-fill level at 6410; however, if SPX does go that low, then 6400 will likely be broken in a fast flash.
In any case, BULLS need to fill today's opening gap, otherwise...
2
Keep it Simple:
1, the 6410 gap was closed--by two points.
2, no impulsive upward moves so far--pay attention to the downward trendline. First task for bulls to conquer.
3, IF TODAY'S opening gap can NOT be filled by the end of day, then next Monday is leaning bearish too.
3
Seriously, this type and structure is CRASHY.
Bulls have about 40-min to turn the ship, otherwise, better buy some Black Monday Protection Puts, just in case.
The TA indicators are screaming for a major move, and the previous supportive structure is broken and gone.
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