Wednesday, 12 August 2020

S&P turning point

 Remember this photo of  a PF i posted in March? ( see previous post) Price went on to pass through the centre line and form a reversal pivot on the LMLP as i deduced at the time.

as seen below today . see the small extension below and above the upper and lower MLP's.

Now we have hit the top upper MLP. Price will try to make a pivot here as we can see with Tuesdays 11 aug trading session. This could be critical reversal point. Remember that with the DJII there is still a gap begging to be filled so that market could make new highs but we will see next few days price action before things will become clearer.

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