well,I wouldn't worry about the Bollinger right now because that got shattered in the big sell down. What I like is the way they shaped the Bottom, holding the 2725 area, that was the key for me watching today. and still is of course. but step by step going upward to test the overhead resistance steps. Yes, pushing it up end of day,Its safe to say they are manipulating the price action, that's what this is all about for how many years now? its all computer controlled and government controlled. in my view.
But there are still patterns they are creating as they go, and that part still seems useful to study. I like plotting with the Fibonacci tools and counting Elliott wave patterns. S+P 1 month /hourly
IF the Powers in control want to recover this eternal upwave, they will need to generate more continued bounces thru 2800/2825 (the 50% Fib) and maybe pause around 2850 area as a resistance. But I think we will see a good recovery at least to 2900/2910 area before they let it fall back a little so it looks real. Appearances matter in a fake market, right? lol
This big plunge to the 2725 target zone was a target my charts were showing for about 4 months from now. and they took it there this week in one fell swoop. The 2800 step is a balance point area I believe where they really want the price to settle and hang for a while. to finish the year. a balance point in a sense. and I think this 2725 Bottom will stand out now like a Head, waiting for the houlder zones to develop, and the next rally wave pattern will take shape from this. to start making 2019 another upward looking rally pattern. but ,first steps first. This bounce needs to continue thru 2800 .
How does it all look to you. Are you thinking there will develop a greater downwave from this weeks plunge?
another downwave 200 points,maybe 2850 to 2650 ? who knows. a bad start for 2019 ? I don't think they will allow that.
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