Is the SNP500 ready for another correction?
I firmly believe that we should soon see a correction deeper than the one we recently had which began at the start of September.
The chart suggests that after finally breaking out of the bear wedge; which began at the start of the lows of the correction in March 2020, we are now witnessing what looks like to be a retest of that bear wedge.
With the addition of negative weekly RSI divergence this should see some firm movement downwards, below the low recorded in the first week of October.
Hard to see the market giving way to such a huge drop, but the market carrier Tesla is due a correction after extreme growth in the recent weeks.
The chart suggests that after finally breaking out of the bear wedge; which began at the start of the lows of the correction in March 2020, we are now witnessing what looks like to be a retest of that bear wedge.
With the addition of negative weekly RSI divergence this should see some firm movement downwards, below the low recorded in the first week of October.
Hard to see the market giving way to such a huge drop, but the market carrier Tesla is due a correction after extreme growth in the recent weeks.
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