As you can see, there's not much one need to draw, if he knows about the law of Action/Reaction and how to apply it without any modification or "tuning".
(IMO, the party seems to be over soon in the S&P)
Here are two different charts to study for you.
Both describe the market with the same principal, but in different ways and...
...they lead to the same point.
Is it by accident?
To find out, just use this technique and start to work - make your hands dirty ;-)
If you really dig deep into the Rabbit hole, then prepare yourself fore some creepy experiences in the sense of how Chart Analysis can change your trading ...
I highly recommend this article I wrote about Action/Reaction:
Find out more about Action/Reaction here: