MTU Weekend Ed. - Lines and Megaphone Update (8/23/19 close)

Lines update - SPX was rejected by the 2018 high and the red line, probing the green line below and yet to confirm a meaningful break.

Megaphone update - As discussed before, if the megaphone pattern plays out, "the traditional measured target for the megaphone is 2150-2350 in SPX."

MTU Weekend Ed. - Lines (8/16/19 close)

Watch the green line below and the red line above.

completion count

P.S. Thanks for Mkt Man for informative comments.

MTU Weekend Ed. - Bounce (8/9/19)

While ES has invalidated a larger diagonal triangle thanks to after-hours prints, SPX has not.

completion count

potential megaphone

MTU Month-End Ed. - Megaphone (8/3/19)

Overthrow Territory (7/26/19)  highlighted the 5th point of a potential megaphone pattern. This past week's selloff confirms that resistance held so far (if this is indeed a megaphone).  If so, the traditional measured target for the megaphone is 2150-2350 in SPX.