SPX - FIb Retracement - Bull vs. Bear
I've heard arguments that we're going to bounce off of the 3400 (black line) mark on SPX, a 38.2 retracement of the Recent October upswing, and up, up, and away. This makes no sense to me given market conditions.
If we look only a month back, and the real meteoric rise of the market from March to Sept 3, and do a retracement, we have a log way to fall still (green lines for FIB levels).
I see us on the C wave of an A/B/C correction with a ways to go down on this leg.
*NOT FINANCIAL ADVICE - NOT A FINANCIAL ADVISOR*
If we look only a month back, and the real meteoric rise of the market from March to Sept 3, and do a retracement, we have a log way to fall still (green lines for FIB levels).
I see us on the C wave of an A/B/C correction with a ways to go down on this leg.
*NOT FINANCIAL ADVICE - NOT A FINANCIAL ADVISOR*
Note
Still headed right about where predicted. I see somewhere just above 3150 61.8 FIB Retrace of Full March-Sept run, 200 Day SMA, and a nice 1.618 Wave C all pointing at the same spot to me.
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.
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.