S&P Bollinger Band
Updated
The Covid Crash was the last time we touched the lower BB band and prior to that, the 2009 financial crisis.
Certainly believe there's a lot of support around 3500 in between 150 and 200MA as this is where the minor crashes in 11,16,19 bottomed out.
Worse case scanario, we'll use the bottom BB as support around the covid dip low around 2200.
3500 early August and confirmation of pushing higher will be a quick bounce back.
Certainly believe there's a lot of support around 3500 in between 150 and 200MA as this is where the minor crashes in 11,16,19 bottomed out.
Worse case scanario, we'll use the bottom BB as support around the covid dip low around 2200.
3500 early August and confirmation of pushing higher will be a quick bounce back.
Note
150MA hitNote
Nice bounce of midzone, then a bounce off resistance level, maybe making further movements higher as stock market tends to start recovering before economy starts to look good.Like to reiterate worse case scenario, for touching bottom of BB, my extrapolation was wrong so need to adjust PT to around 2400
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