S&P 500 - Coincidence or not???
Interesting that those 3 trend lines intersect right at the peak created by the COVID vaccine news the other week. It also happens to perfectly hit the 1.236 fib extension off the March low. If you did not know, 1.236 is the highest amplitude a corrective wave can go. If it breaks higher than that, it is a motive wave and not corrective.
Close up
If it is corrective, then this is my guess what a correction may look like.
Close up
If it is corrective, then this is my guess what a correction may look like.
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.