For those that have been following my ongoing interpretations of the “markets” latest move via my technical eye, here is the latest which seems to be making all prior interpretations valid. To wit:
The above is the S&P 500™ futures as of this writing. The chart is using the same lines, one hour bar/candles and shaded areas from the prior observations. All I’ve done is elongate them to fit the current time fame, but the levels are the same.
As you can see the “market” never entered into that top area I argued was key for more continuation to higher highs bias, and what has happened, we have re-entered the area that should denote extreme caution, where the prospects of falling lower, much lower and quickly, are firmly back on the table.
As always, we shall see.
© 2019 Mark St.Cyr