Monday, September 13, 2021 9:33:04 AM
Bearish targets have been claimed....
http://www.pretzelcharts.com/
"Last update noted:
Below yesterday's low would suggest a trip to the 4472-80 zone at the minimum, and a minor (near-term) waterfall at the maximum, potentially rather quickly down to 4445-56.
SPX dropped down to that first target zone early, then bounced... then later in the session moved "rather quickly down" to... 4457. So it missed the second target zone by 1 point (though it's interesting to note that futures did capture the equivalent of 4456 in the overnight session last night and then bounced).
This is getting into interesting territory now, and I've outlined some zones on the charts:"
"NYA is just below the previously-noted black trend line, and will likely bounce to open the session, so we'll see if bulls can do anything with that bounce, or if it ultimately fails (I'm currently leaning toward the latter)"
"In conclusion, SPX effectively captured its next target zones, but bulls have work to do to right the ship, as presently it appears that further downside is reasonable to assume, after the current bounce completes. Trade safe."
http://www.pretzelcharts.com/
"Last update noted:
Below yesterday's low would suggest a trip to the 4472-80 zone at the minimum, and a minor (near-term) waterfall at the maximum, potentially rather quickly down to 4445-56.
SPX dropped down to that first target zone early, then bounced... then later in the session moved "rather quickly down" to... 4457. So it missed the second target zone by 1 point (though it's interesting to note that futures did capture the equivalent of 4456 in the overnight session last night and then bounced).
This is getting into interesting territory now, and I've outlined some zones on the charts:"
"NYA is just below the previously-noted black trend line, and will likely bounce to open the session, so we'll see if bulls can do anything with that bounce, or if it ultimately fails (I'm currently leaning toward the latter)"
"In conclusion, SPX effectively captured its next target zones, but bulls have work to do to right the ship, as presently it appears that further downside is reasonable to assume, after the current bounce completes. Trade safe."
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