[SPX] Stuck Between Megaphone Top and 2Y Trend... Price Trap!
Today it bounced almost exactly between the entire Megaphone and 2Y trend gap.
Market gravity above the red line is too high but not high enough to push the Price back under the yellow line.
Any given day at this point is probably at about 15% chance to break and hold above red line, 35% chance to hold between red and yellow and 50% chance to fall and close below yellow.
Just gotta keep waiting for something to break... it can't stay stuck forever!
Market gravity above the red line is too high but not high enough to push the Price back under the yellow line.
Any given day at this point is probably at about 15% chance to break and hold above red line, 35% chance to hold between red and yellow and 50% chance to fall and close below yellow.
Just gotta keep waiting for something to break... it can't stay stuck forever!
Data analyst with a passion for best fit lines B)
