Mind The SPX Arch Potential For A 25% Plunge Ahead

If you been following our technical chart segment you have seen the evolution of one particular chart: That of the daily $SPX. The rejection of price on Friday, after yet another push higher, occurred at the level of an arch that we have been observing unfold over the past year. Now there is no technical pattern called the “arch”, but one cannot deny that since September 2014 price rejections have taken place along very specific points that now offer stunning symmetry.

It is not only the arch here which has proved superbly precise, but the confluences of price rejections are incredible.  (more)