This is the most significant downside move we've had on the weekly chart off an uptrend since last July. I will still monitor it on the 4H and Daily for anything actionable. Bears should be happy that they might get some relief (and easier trades) if we get the mean reversion. Bulls should be happy because a pullback is needed if there is any hope of going higher and finishing the C&H measured move to 5400-5500. Investors should be happy because discounts! Have a great weekend. See you all in a couple weeks. $SPX $SPY $ES_F
@satymahajan Saty with the best outlook on all fronts! Everyone should be happy! Love it bro 💪🏼
@satymahajan interesting indicator setup, what are you using?
@satymahajan Friday's action with $SPY came into a lower weekly vPOC at $510.55, and for the first time since 10/23/23, had a WEEKLY close below the value area low. Just with these variables alone, historically anytime this has happened, price action has a big reversal the following week.
@satymahajan Yeah it was expected. They really caught people off guard with that last pump over 5200 for SPX tho
@satymahajan I like the upbeat take! Have a nice weekend!