Replies to post #77862 on SPDR S&P 500 (SPY)

[Fox13]

Thanks Bob. Today we face a quite different trip. Yesterday we had a little poem:
When a wedge follows a gap
They are only a big trap.
Don’t be scared - a bigger play
Soon will go the other way!

But today we have a symmetric triangle which has an opposite typical outcome: a continuation of the dominant move before the formation of the triangle, i.e. DOWN. The new revised time pivots only mark some steps on this “inexorable” way down…

[Fox13]

Thanks Bob. Today we face a quite different trip. Yesterday we had a little poem:
When a wedge follows a gap
They are only a big trap.
Don’t be scared - a bigger play
Soon will go the other way!

But today we have a symmetric triangle which has an opposite typical outcome: a continuation of the dominant move before the formation of the triangle, i.e. DOWN. The new revised time pivots only mark some steps on this “inexorable” way down…