A break monthly wedge will bring a sharp waterfall, imo heading to 618 fib retracement
A failed retest on Monday created an upwick. HS pattern has completed imo after this failed retest. Heading to 700.
Indicator broke down big, 116, 100 are the first tp for shorting.
This is my SPX500 long term view for 2019. See if it plays out.
The right shoulder of XLY is about to complete, my indicator is about to break too. Watch for signals to short.
Completed 0.5fib retracement from the last big dump. Also the level concurs with monthly red cloud top, short and stoploss at 70 all the way to the bottom.
Long term chart bottomed with W formation. Estimated move will be at cloud top, buy after a pull back.