Trying to solve the puzzle: SPY SPX SP500

15 Mar 2023

I took the SP500 / SPY / SPX and tried to remove market noise by dividing by gold and the US dollar index. Doing this presents some clearer structures with nice trend lines. Currently there is a similar bearish structure present to 2016 and 2020. The range of the first downward impulse from 2016, 2020, and more recently, fits nicely into the gap between the respective bear flag trend lines and the major trend line drawn from the 2016 and 2020 wicks. Will definitely be watching this zone if the market melts down.