S&P 500

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On the S&P 500 im getting ready to sell it because we have a bat pattern that formed! the pat pattern "B" point is at the Maximum 5% tollerance outlined in Scott Carney's 3rd Harmonic Trading Volume. the 401k index has been struggling since SARS2 taken the world by storm. i dont expect it to get any better since the Q2 earnings report is going to reflect the majority of the shut down the world has implememnted. in Q1 we had January and Febuary of earning power to offset the lack of business that the shut down caused in March. in Q2 however we have 2 months of complete shutdown with maybe 1/2 a month of earning power to offset the the 2 months of no earnings. your highly leveraged business are really going to be hurting this Quater with many of them having to take out loans and ETC. i havent tried, nor do i want to, read the 1800+ pages the CARES Act or HEROS Act has. Somewhere in those pages are clauses that are in place to help business, but what i do know its not going to be enough to suffice for the lost earnings. Common Stock is about to plummit again as investors see their 401k take another hit. a few weeks ago popular analysis came out saying the Bear Market is over and retail traders listening to this garbage rushed back into the market to buy stock at a bargin price. and dont get me wrong some of those stocks were a bargin, but how are we going to be out of a bear market when S&P 500 did not even retrace to the 618 on the daily. fundamental analysis is essential but those analysit use technical analysis to form their fundamental analysis. if by chance there are any traders out there that read all of this wait to enter the market. holding onto your money isnt going to cost a penny (unless the fed introduces a negatie interest rate), but entering the market early could cost you everything!
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PS i caught this pattern before the software! :)
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PA marched up to the HOP of the Bat Pattern then formed a Hed and Shoulders reversal formation. Because this is a reversal formation we could see PA slip to the 283X- 284X level. I missed the move that happened 1400 centeral time :(

Snapshot
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oh yeah once PA marched up the HOP Level it drew a crab pattern. either way strong signal for a sell!
AB=CDBatCoronavirus (COVID-19)covid-2019harmonicforexHarmonic Patternsharmonictraderssars-cov2S&P 500 (SPX500)

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