S&P-500: All Support and Resistance for Bull and Bear Scenarios
Let me explain this. ALL SPIKES ARE THE SAME. However, the different timeframes and chart scales create 4 unique layouts for both Daily and Weeklies.
The top two are Dailies and the bottom two are weeklies. I have labeled which chart scale they are on.
THE TOP TWO HAVE RESISTANCE SCHEMATICS (THE SAME TWO).
As in, the extensions are RESISTANCE (IN RED)
THE BOTTOM TWO HAVE SUPPORT SCHEMATICS (THEY ARE DIFFERENT). As in, the extensions are SUPPORT (IN GREEN)
*We have just intersected the 2.618 and now we either....*
A. Go to the 1.618 now at 3970...
B. We go back to 4.236 and crab around...
C. Go through the 4.236 and to the 6.854 where we possibly create a disjointed double top...
D. Drop through all support, destroy schematics at 3500 and find NEXT SUPPORT AT (GREEN)
BTW: The Dailies are 3 Day timeframes because Dailies are too strecthed. BUT THE DAILY SCHEMATICS ARE PURELY MADE FROM DAILIES SO IT DOES NOT MATTER.
---You may notice that the bottom two support schematics are
the same as #2 and #3 on my "S&P-500: All Fibonacci Schematics" idea linked below---
The top two are Dailies and the bottom two are weeklies. I have labeled which chart scale they are on.
THE TOP TWO HAVE RESISTANCE SCHEMATICS (THE SAME TWO).
As in, the extensions are RESISTANCE (IN RED)
THE BOTTOM TWO HAVE SUPPORT SCHEMATICS (THEY ARE DIFFERENT). As in, the extensions are SUPPORT (IN GREEN)
*We have just intersected the 2.618 and now we either....*
A. Go to the 1.618 now at 3970...
B. We go back to 4.236 and crab around...
C. Go through the 4.236 and to the 6.854 where we possibly create a disjointed double top...
D. Drop through all support, destroy schematics at 3500 and find NEXT SUPPORT AT (GREEN)
BTW: The Dailies are 3 Day timeframes because Dailies are too strecthed. BUT THE DAILY SCHEMATICS ARE PURELY MADE FROM DAILIES SO IT DOES NOT MATTER.
---You may notice that the bottom two support schematics are
the same as #2 and #3 on my "S&P-500: All Fibonacci Schematics" idea linked below---
Comment:
HERE I LABEL THE NEXT S/R FIBS
