Three things have emerged in the S&P 500.
- The upper boundary of the corrective channel has been slightly crossed.
- The price also went above 78.6%, but even if it's not so much above, it should be considered critical as a retracement (thus eligible for a flat correction and a (C) wave has to develop consequently).
- The ratio of 100% between wave A & C was also a little exceeded.
All the above are elements pointing to a possible exhaustion of the advance in price signaling a reversal.
Be watchful,
D.
- The upper boundary of the corrective channel has been slightly crossed.
- The price also went above 78.6%, but even if it's not so much above, it should be considered critical as a retracement (thus eligible for a flat correction and a (C) wave has to develop consequently).
- The ratio of 100% between wave A & C was also a little exceeded.
All the above are elements pointing to a possible exhaustion of the advance in price signaling a reversal.
Be watchful,
D.
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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.