SPX dropped out of its rising wedge for TVC:SPX by nagihatoum — TradingView


first target is $3555, This can cascade to the breakdown of the ascending triangle whose target is $2580. Final destination is support of the cone at 2055 which will make this a second black swan event.

There are multiple reasons for crashing the market, some of it political, but most outstanding is historical unprecedented open interests in option calls. They pushed the spx to $3777 to make these calls more expensive and now they will send them to zero.

I will leave a link in the comments for the option call graph.


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