S&P Could Drop Back To 2532
S&P 500 could be in a final stage of counter-trend correction
within wave X, which is a link between wave W and Y.
The range was set with the wave W between 2532 on the downside and 2873 on the upside.
The index reached the area of triple resistance where current resistance (yellow), medium term (gray) and range's top (blue) intersect.
Besides that, there is a Pregnant Lady aka Harami candlestick appeared yesterday.
It is a Bearish reversal signal.
But let us watch for the breakdown of immediate support (red) for confirmation.
The Y wave could drop back to the major low established by the wave W at the 2532 level.
within wave X, which is a link between wave W and Y.
The range was set with the wave W between 2532 on the downside and 2873 on the upside.
The index reached the area of triple resistance where current resistance (yellow), medium term (gray) and range's top (blue) intersect.
Besides that, there is a Pregnant Lady aka Harami candlestick appeared yesterday.
It is a Bearish reversal signal.
But let us watch for the breakdown of immediate support (red) for confirmation.
The Y wave could drop back to the major low established by the wave W at the 2532 level.
Note
Perfect geometry! Note
the old idea with triangle played out to cancel this one
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.