Option Iceman 10:03 am on Wednesday, November 16, 2022

SPX/SPY

How would you read this chart? I find it pretty interesting

jsd501 10:25 am on Wednesday, November 16, 2022

Pretty bearish but it is a 15 minute chart so lots of gaps in that time frame.
fuzzballl 10:35 am on Wednesday, November 16, 2022

I don’t watch a 15 minute much but it does look like some sort of a topping pattern. On the daily I’m mainly just watching consolidation between the 50 and 200 day along with a lower highs downtrend.
Ramie 11:06 am on Wednesday, November 16, 2022

Looks like a classic head and shoulder pattern, which would imply a down move of 70 point or so in SPX. But the 15 minute chart is not really confirming the daily which you could say is showing an inverse head and shoulder. This has been a hell of a year to be trading and I don’t mean that in a good way.