I think some of you might like this! I was just browsing the hourly cycles...and oh yes...what do I see...I see a new H/S formation setting up! I was so pleased to spot the mini H/S last week, maybe I've just found another one.
If I'm right, it'll make for a good exit for those longs (myself included)..and it'll clarify the broad levels for those looking to re-short.
SP'60min - NEW H/S formation chart
This looks pretty good I think. The top of the RS, would indeed be suggestive of a re-short level in the 1380/90 zone.
SP'60min - standard chart
I do think there is a fair chance I'm right, and if so...the next few weeks are going to be real good.
More after the close.