[SPX] Already Back to Top of 1Y Peak Channel
That was a fun ride down and back up.
From here I still have strong doubts about Price Action's strength to break and hold above this 1Y Peak Channel.
At this point a weekly close above seems quite unlikely but next week should be our best shot at it (maybe the week after) before we fall back into the downtrend here.
The closely grouped lines were for day trading purposes, I do expect them to come back into play sometime this month so will let them chill for now.
White is a new downward megaphone trend bottom if 1Y Peak Channel top holds, I expect we'll test it again this month.
From here I still have strong doubts about Price Action's strength to break and hold above this 1Y Peak Channel.
At this point a weekly close above seems quite unlikely but next week should be our best shot at it (maybe the week after) before we fall back into the downtrend here.
The closely grouped lines were for day trading purposes, I do expect them to come back into play sometime this month so will let them chill for now.
White is a new downward megaphone trend bottom if 1Y Peak Channel top holds, I expect we'll test it again this month.
Data analyst with a passion for best fit lines B)
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