Third time hit ! is it a correction ?
With two times unsuccessful attempts in the recent months, the S&P 500 was unable to form a bullish candle above 3000 resistance zone.
If the Fed rate cut and other fundamentals go against the stocks market a corrective wave is expected. the most important support line is the
.0236 Fibo retracement level from the deeps of Feb 2016 which is located at 2739 which is shown by a red think line. Others are 50 and 200-day moving averages.
If the Fed rate cut and other fundamentals go against the stocks market a corrective wave is expected. the most important support line is the
.0236 Fibo retracement level from the deeps of Feb 2016 which is located at 2739 which is shown by a red think line. Others are 50 and 200-day moving averages.
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.