S&P500 -ES has reached the Top for now.
This is my 100% believe, that the S&P500 has reached at least a temporary high.
From here we will go down, at least to the dashed WL (Warning Line).
We had the Open & Close below the Lower Medianline Parallel. But price couldn't reach the WL. So, that means we had a HAGOPIAN cooking.
A HAGOPIAN means, that price will go further in the opposite direction than from where price came.
And this rule was right. SP500 was going up like there is no tomorrow. Just stupid buying all the way.
Today it found it's wall, banging it's had on the Lower Medianline Parallel. This was the first Test. As we know, price can create multiple tests before dropping down.
I was observing price action the last couple weeks and it was Insanity at it's best. Be it from Algos or HFT's, I don't care. I just follow my rules and currently they say:
<<< IT's OVA >>>
So, I follow my Medianline/Fork Rules and I'm Short.
The target is as of my rules, the next Line, which is the Warning Line. Interestingly it's also where price intersects with the bigger (Green) Pendulum Swing Fork.
Let's have a Christmas experience §8-)
From here we will go down, at least to the dashed WL (Warning Line).
We had the Open & Close below the Lower Medianline Parallel. But price couldn't reach the WL. So, that means we had a HAGOPIAN cooking.
A HAGOPIAN means, that price will go further in the opposite direction than from where price came.
And this rule was right. SP500 was going up like there is no tomorrow. Just stupid buying all the way.
Today it found it's wall, banging it's had on the Lower Medianline Parallel. This was the first Test. As we know, price can create multiple tests before dropping down.
I was observing price action the last couple weeks and it was Insanity at it's best. Be it from Algos or HFT's, I don't care. I just follow my rules and currently they say:
<<< IT's OVA >>>
So, I follow my Medianline/Fork Rules and I'm Short.
The target is as of my rules, the next Line, which is the Warning Line. Interestingly it's also where price intersects with the bigger (Green) Pendulum Swing Fork.
Let's have a Christmas experience §8-)
I fully expect a test/retest. But that's just the game of the Market-Makers.
Important is to be aware of pullbacks and don't let them scare you out too quick.