We are clearly seeing a setup for a downturn, upper trend line is rejected.
Next FIb level down is .236 (2860) but 2900 will be defended first.
This could unwind all the way down to Dec 2018 lows (2345)
Market is overbought and inflated by the FED easy money policy and we are in a bubble.
Drop could be substantial, if FED comes out with .25 instead of expected .50 cut or no cut at all.
Next FIb level down is .236 (2860) but 2900 will be defended first.
This could unwind all the way down to Dec 2018 lows (2345)
Market is overbought and inflated by the FED easy money policy and we are in a bubble.
Drop could be substantial, if FED comes out with .25 instead of expected .50 cut or no cut at all.
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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.