Monday, September 13, 2021

SP-500 4600 Zone Beckons

Looks like an ending diagonal potentially short term. Surrounding criteria do not support a leading diagonal but this is likely a minor corrective pullback and a new high will probably be necessary to set it off. Price patterns by themselves [diagonals  head and shoulders etc] only have a 67% chance of reliability statistically but with multiple surrounding criteria vectors and breadth patterns, that increases it to better than 85% so we shall see. If it materializes, there is a gap open at the 4020 zone below which may be tempting and is entirely achievable according to vector projection calculations as they stand currently. Any change to the expected pattern developments will cause a re-evaluation of the analysis and an updated post.

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UPDATED 4/12/2021 Review Here
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