PRO_Indicators

SPX / M1 : no more room for buyers

FX:SPX500   S&P 500 index of US listed shares
Some who follow me knows that I've been searching for a top for quite while. I've been taking some stoplosses due to a bad timing. Anyway that never meant that I was bullish ^^
Even though I remind you that the big short top is not nearly here ! I still think that we're reaching a mid term peak here and we'll shortly look forward to support areas.
We've managed to push as high as we could, but we're now facing an nearly impossible to breakout resistance that is the long term trend channel from the previous wave 3.
This wave was our exteded wave which means that the 5th wave cannot breakout above this trend. So basically what that means is that no matter how high we pushed we're about to lose momentum here and most likely fall back to supports to buy the subwave 4 point before jumping in to the big short later on and which will probably also be near the channel's top area.

Hope this idea will inspire some of you ! I'ld appreciate any like/follow if you feel like it deserve it ;)
You can check my indicators via my TradingView's Profile : @PRO_Indicators
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