Check out this chart from StockCharts.com for $SPX
RSI = L1 Grid Normal (transition)
Price = L1 Grid Frenzy (overbought) L2 Grid Frenzy (overbought)
MFI = L1 Grid Normal (transition)
Stochastic RSI = L1 Grid Frenzy (overbought)
Analysis -potential for a cascading collapse is cooked into the mix, Tops are made with violence, bottoms are made in silence!and if what we are seeing in the markets is not violence that I dont know what it is, broadening top (?)
Conclusion - completion of a 5th Elliot Wave and leg3 of A-B-C correction
Action - Sell trailing stop
RSI = L1 Grid Normal (transition)
Price = L1 Grid Frenzy (overbought) L2 Grid Frenzy (overbought)
MFI = L1 Grid Normal (transition)
Stochastic RSI = L1 Grid Frenzy (overbought)
Analysis -potential for a cascading collapse is cooked into the mix, Tops are made with violence, bottoms are made in silence!and if what we are seeing in the markets is not violence that I dont know what it is, broadening top (?)
Conclusion - completion of a 5th Elliot Wave and leg3 of A-B-C correction
Action - Sell trailing stop
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