Its the final hours of the week and SPX has been supporting the SEP 2018 2941 and my 2931
To AVOID a 3rd consecutive 🔻 Weekly Candle, SPX NEEDS to close +2974.28
No one NEEDS to play this close, but you can use this as a starting point to go back and research the CONSECUTIVE 🔻 Weekly Candle patterns going back as far as you’d choose to (understanding algos have become increasingly involved compared to 2008 and 2002).
What you will notice is a 3rd is RARE, but not uncommon (AUG 2019, JUN 2017, 2018), but they do tend to fall at the END of a downtrend and a decent reversal usually follows.
Thus I’d AVOID BEING SHORT over the weekend and be APPROPRIATELY, not#FullRetard, positioned LONG as many got to learn that the movement UP and the drop on the VIX isn’t what it used to be when you had a VIX -20 and -15.
Have A Great Weekend and I’ll see you Sunday Night for the Futures Open