E mini S & P: Is this move a game changer?.... Gap Pitch Fork reaction line PLUS Gold support along the median line

 The only reason I am long here is the red thick RL not the black up sloping ML that served us so well a while  back on 5th April. Since i have begun to understand  and learn and truly observe price distribution along 'organic' lines (such as reaction and median) that support and resistance can be understood within a trading context.  Look at the black up/sloping ML and then look at price distribution along it in both a low and high time frame. In the 240 min it looks as though it has held...so far. Are we in for another down day? There are a bunch of  down sloping  RL's waiting to hinder price and also a few upsloping BUT none are as important as the reaction line you can see on the chart above. Currently  at 1557.75 ( June 13) we are now at the .382 Fib RT level of the move down from 1592.75 to 1538.50. The chance of a further fall exists and should be taken seriously . A break below 1548 will be critical. However I am always drawn back to the fact that the Emini S& P is a rigged market. Rigged in my favour... Why? Because equity markets are have a long mentality and are always viewed from the long side unlike many other asset classes. They spend much more time going up and then have sharp falls like yesterday but in today's financial climate equities are  still the most attractive asset class as who is buying gold and precious metals and Copper or grains or softs etc. With the exception of various fixed income markets such as Bunds equities will remain well bid. The real question is will this higher low of yesterday remain intact?

 Gold has found support on the MLP of this important fork plus has touched all its Schiff forksCL objectives ( see yesterdays/previous posts). If viewed in the daily the shadow/wick pierces the line but the candle bodies remains mostly above....its the art of reading price distribution again. It's a bounce but perhaps not the bottom.. trend take their time