Will the S&P500 make my 3900 target in a limp bull channel?
I hate trading these weak and drifty channels. If it were a stronger recent move up I'd be looking at the 618 fib extension at about 4100 as my target. Nevertheless, it's looking for a 2nd measured leg up, which would conclude at about 3900 or so. Provided it doesn't pull back below 3510, I think it will keep drifting its way to the 50 fib ext. I'll also be taking some off the table at the 382 fib ext around 3760.
Related publications
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.