SPX Fibonacci levels 16th of February 2022
Hi guys,
We can see that SPX did a perfect bounce from the 0.618 levels. If this holds as support we are going up once more.
On the bearish side of things we can see that the 2020 Covid cash perfectly lines up with the 2.618 Fibs retracement level. Also the correction in October 2020 lines up with the 1.618 fibs retracement level.
In case we lose the support provided temporarily by the 0.618 fibs level, this math would suggest we're in for a couple of very very bad years ahead in the stock market and probably in all major domains (crypto included).
Not financial advice, just a very bearish idea :(
We can see that SPX did a perfect bounce from the 0.618 levels. If this holds as support we are going up once more.
On the bearish side of things we can see that the 2020 Covid cash perfectly lines up with the 2.618 Fibs retracement level. Also the correction in October 2020 lines up with the 1.618 fibs retracement level.
In case we lose the support provided temporarily by the 0.618 fibs level, this math would suggest we're in for a couple of very very bad years ahead in the stock market and probably in all major domains (crypto included).
Not financial advice, just a very bearish idea :(
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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.