|30 min SPX- showing inverse H&S formed fri-wed of last week|
Below 1420 means the price could enter the red box highlighted below and in theory could fall easily to the breakout level of 1290-1400 if the Fed and or German courts disappoints wed and or thursday.
Quite a few participants are long only and are very long though in my opinion many participants are short and or have not participated in the last 100 points of the S&P because of complacency and or skepticism. A fire burns hot, but when the fire is fanned it becomes white hot. A squeeze related to fed action could fan the fire.
|30 min ES_F - Red box is the area which prices could come volatile if 1420 fails|