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Similar results are taking place from the current falling wedge, as it did back in 2008, in this inverted Russell 2000 chart.
The inflection point at (1) looks to have taken place as the S&P 500 and Wilshire 5000 (see post here) break their necklines as the “GREAT UN-WIND” could be gaining some downside momentum!
Has this decline moved the Dow and S&P 500 much closer to long-term support? (see long-term support here)
Looking at the fibonacci retracement for the S&P500, I see the next level of major support at 1120. Do you have an updated chart to view this?
Thanks Chris but could you elaborate on the how the “inverted” chart is derived and it’s advantage, thanks