EURUSD reacted to the .618/1.618 combo as expected, has an opportunity to reverse here at the purple channel bottom and previous high.
Close-up:
ES is approaching a potential midline of the admittedly unclear falling white channel.
SPX looks like it just bottomed at 1759.84 per the purple channel, while the white shows a failed breakout. I’d want to test a long position around 1758-1760, with stops at the previous 1752.70 low.
UPDATE: 9:51 AM
This would make for a nice bottom here at 1758ish.
UPDATE: 10:00 AM
Tagging a good TL at the .786 and a symmetric shoulder on a IH&S… Should be very close to the bottom here at 1755.78.
UPDATE: 2:40 PM
SPX reversed nicely at 1755.76. Where from here?
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