| | | SPX - Yes... 3rd time CERTAINLY WAS the charm, as the target of the symmetrical triangle was met, and the prescribed reversal ensued. Notice the price interaction with the through lines of the triangle as price fell through them. Also note what's been holding price up from all-out collapse, which is that down fork, and its bottom tine. I'm not expecting the fork to be blown out til next week, as we enter the Central Puetz Panic Window after the full moon on Tuesday/Wednesday. Targets established from the topping pattern are in stone at the 4809 and 4750 areas, but if those are achieved by early next week, then buying there would be too much akin to "catching a falling knife." Looking at a 6-month daily chart of the SPX, you will note a distinct "WEDGE" formation, whose base is located in the 4650 area. A visit to this area is probable in an all-out house-clearing meltdown which shouldn't be surprising in this Powerful Puetz Panic Period (say 3X fast). At least those who were still bullish at 5275 can look back at it as one big April Fools Day Joke!!
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