We've seen this work before. Once prices break through the channels, the mechanical
SELL is triggered as it is being confirmed by both the
False Bar Stochastic and the
Elliott Oscillator. There is also a lot of confirmatory supporting evidence in the
Intraday Trend Models, in particular the 240 minute models which have been navigating this market well over the past few months.
Even though the
SPX_Daily Trend model doesn't kick in until
1061 is taken out, there are enough other
weight of the evidence considerations to consider the short side now.
A