S&P 500 Index
Mega phone pattern formation
Currently price is around resistance trend line of Megaphone on weekly time frame,,
RSI bearish divergence :- Price is making higher high and RSI is making lower high,,
Time cycle :- Index is making peaks and lows as regular interval of 36 weekly bars,,,
History :- After every bull phase index tends to fall below the low from where the bull move started,, will the history this time,,
Before 30 nov index should top out,, and initial down fall of 10 to 15% can be seen as the reversal of trend,,, and slowly should pan out in down ward direction,,,
Mega phone pattern formation
Currently price is around resistance trend line of Megaphone on weekly time frame,,
RSI bearish divergence :- Price is making higher high and RSI is making lower high,,
Time cycle :- Index is making peaks and lows as regular interval of 36 weekly bars,,,
History :- After every bull phase index tends to fall below the low from where the bull move started,, will the history this time,,
Before 30 nov index should top out,, and initial down fall of 10 to 15% can be seen as the reversal of trend,,, and slowly should pan out in down ward direction,,,