SPX tricks and traps

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All in the video, I believe we've topped today and we're going to make our way down to the 4050 level. If I'm wrong I will certainly update the idea. While higher highs are still possible, I lay out my reasoning why this is more likely a top than not.

Good luck!
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good morning, so far the top has held but we're not gapping down hard just yet. Housing numbers are at 830, let's see what happens after that. The last high could be considered a "tradable top". Still support betweem 4320-4310, under that it gets more interesting 스냅샷
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morning chart - triangle consolidation tested with the 830 numbers. 스냅샷
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breaking down. 스냅샷
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looks like they will attempt a rally at the start of the day - possible opening 스냅샷
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they likely test the bear flag and the triangle, waiting.... 스냅샷
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스냅샷 ok, maybe that's it, we'll see
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on spy - buyers may try to save it here, important support level 스냅샷
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SOXX down 2 percent, nice break this should lead tech to outperform to the downside 스냅샷
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back to the morning triangle. If they get over 4370 it's another bear trap and we have a repeat of yesterday 스냅샷
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ok hard rejection. If that gets taken out it would be horrible for bears. 스냅샷
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ok that's a break - finally. 스냅샷
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this diagonal trendline structure on spx cash looks important, so if it gets there, perhaps a decent (tradable for a day or two) bounce will occur. 스냅샷
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a larger structure on SPX cash I'm watching. 스냅샷
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to resistance - should be 4 with 5 coming. 스냅샷
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qqq needs to break 363, then that 364 level will become heavy resistance. makes sense the bought it here. 스냅샷
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futures chart - retested the blue trendline and rejected 스냅샷
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if tech breaks this level they will likely struggle and try to regain it. Even if it looks terrible by end of the day, this level will most likely get retested
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QQQ lost support. They WILL come back to this level at some point for sure. 스냅샷
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put/call still relatively tame, bears are gun shy because they've been burned so often 스냅샷
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it's possible that's it for this leg. a bounce to retrace tomorrow at 8:30 wouldn't surprise me. I took some profits and waiting for tomorrow's open - have a good evening. 스냅샷
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good morning, looks like we'll have one more wave down today and then a relief rally. It's possible the 830 numbers tank it and after open it rallies, or - the 830 numbers rally it some more and then it reverses. Either way I think it's a sell the rip kind of day if we get one. 스냅샷
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on SPX cash this idea is still possible if futures is putting in a cup and handle bottom. This would reset the RSI enough for a bigger drop next week. 스냅샷
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potential cup and handle on futures points to a target of 4350. 스냅샷
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if it looks bearish at open, watch for a reversal, RSI on mid time frames could use a reset, so higher for at least some of today is looking more likely than not. 스냅샷
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this is the plan for today, if it doesn't work I will update. 스냅샷
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waiting for 4300 area, it may not get there, but it's the logical support. 스냅샷
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still waiting, looks right so far. 스냅샷
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should still have one more low if it's correct 스냅샷
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target nearby, collecting some longs slowly here. 스냅샷
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target reached, if I'm right it reverses soon, if not it keeps going to break the low. Stops tight. Good luck! 스냅샷
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needs to get over 4305 and hold, otherwise it's going lower. 스냅샷
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on another chart, I have this. If they make another low, it wouldn't surprise me. Needs to get over the blue trendline and hold to be bullish. 스냅샷
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they are really playing games here. Structural trend on SPX holds so far. I little lower is not a problem to take out longs. 스냅샷
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ok false breakdown, but it needs follow through. I'll update later, I have to go out 스냅샷
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nice pop, but now it either drops or it's a C of B with C up to end the day. 스냅샷
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15 minute bull divergence, may not mean anything, but this still is possible. Careful on both sides. 스냅샷
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looks like a bear trap - more traps and tricks. 스냅샷
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should keep going to the gap on spy around 435ish... 스냅샷
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ok last chart, today - 434 is likely today - MAYBE 435 but that gap may not get filled. To me this is another bull trap regardless of how high it ends the day. We're still in sell the rips mode as far as I can see.... 스냅샷
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the problems is SPX is being held back by tech. Tech can't get over 364 - the level I mentioned yesterday. So even though typically a C wave will extend past A, in this unusual case the C wave on SPX may actually be shorter. Hard to say but basically without Tech moving up, the market will not move up. Target on Tech is still 355. 스냅샷
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note SPX the C wave may actually be done here, unusual to say the least and quite bearish if true. 스냅샷
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last post on this chart, I will make another chart tonight or tomorrow morning. This channel on SPX is still in play for the target. Timing may be late October for a low. I don't expect much more bouncing. Sell the rips continues into Halloween I think. 스냅샷
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oil - long. dips likely get bought 스냅샷
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