joefridaypic

Shared the chart below on Stocktwits last night (see post here)  Would be honored if you joined me as a member there!

spxatdualresistancedangerousplacesept17

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While the world was focused on what Janet had to say yesterday, they might have missed the important pattern that the S&P 500 was making.

I shared the chart below last week, suggesting that the S&P could be in big trouble if it couldn’t “knock down” this resistance (See Post Here)

spxknockknockattemptingtogetbackinchannelsept10

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The chart above was shared 8 days ago, reflecting that the S&P 500 was on the underside of this resistance channel, attempting to climb back inside and that the 2,000 level was important.

The top chart reflects that the S&P looks to have created a reversal pattern (bearish wick) yesterday at dual resistance.

Joe Friday just the facts… The reversal pattern¬†that took place yesterday, looks to have taken place at a dangerous price point.

 

 

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