Nothing new here, just a typical late night ramp job on no news to complete a Gartley Pattern at the .786, though there’s room for a romp to the .886 at 1847.51 if the MOTU so desire.
Chase it if you dare, but there’s much more downside risk at this point. Though there’s an obvious Inverted Head & Shoulders Pattern brewing, this is likely just the deeper retrace we’ve been expecting — a second wave that prepares the way for something rather unpleasant.
UPDATE: 10:50 AM
Gap close and then some. SPX just completed a .886 retrace and test of the rising red channel bottom — definitely worth a shot at these levels. Stops even more important…
UPDATE: 1:00 PM
PPT kicked in 1830 and SPX got the easy bounce back to 1837. It’s all heavy lifting from here. Ditto for ES, which looks like it’s running out of steam.