SPX - bigger picture
Bigger picture, the SPX looks like a flat off the lows, because the move to new lows (from red A to red B on the chart) looks to be only 3 waves because of the overlap. Therefore this huge rally off the lows is destined to be FULLY retraced, since it is likely a C wave, part of a correction.
The big question is when will that correction start, of course and for that I will zoom in to the hourly chart and post a new idea.
The big question is when will that correction start, of course and for that I will zoom in to the hourly chart and post a new idea.
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.