Check the Fib Cluster Zone with potential double bottom. Perhaps we could be seeing an overreaction in the SPX for a potential rebound making the rest of 2020 a roller coaster ride within this triangulation pattern.
The Short term support gives us an indication whether or not the SPX will be falling into this consolidation as we need to hold above these levels at 61.8% retracement for the longer term bulls to remain alive. If we are right, the Corona meltdown could be just a healthy pullback into the 38.2% retracement setting up for a longer term bullish outlook
The Short term support gives us an indication whether or not the SPX will be falling into this consolidation as we need to hold above these levels at 61.8% retracement for the longer term bulls to remain alive. If we are right, the Corona meltdown could be just a healthy pullback into the 38.2% retracement setting up for a longer term bullish outlook
Note
61.8% Critical Support broken, brace for a rough landing towards 2140 level...
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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.