S&P 500 Diamond pattern

18 окт. 2023 г.

We have formed a diamond on the S&P. due to the current economic status we are in i have a bearish bias but i will react to the price and not predict. The side of the diamond that breaks out should give approximately a 90 point move in that direction. Don’t panic if you miss the break or even take the entry on the break and we come back for the re-test and then continue in the direction of the trend line that was broken.
BULL PT=$4453
BEAR PT=$4270
Currently Dealers are pricing in a 1.14% daily move so a good technical break and news could send it!

GOOD LUCK AND MANAGE RISK!