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S&P 500 Index

SPY Possible Retracement Path

By kavindajd
Updated
SPY is boucing off key Fib levels today (04/05/2020), opening the door for a correactive wave up before another 5 waves down.
Note
Incorrect - Wave A began a lot sooner and completed around the 2818 mark. Wave C was impulsive as expected and finished in the 2873 region.
Currently, short from 2863 with a target of 2679 (100% retracement of major move down - Wave A).
Note
Outcome:
Prediction of wave end was correct.
Knowledge of corrective patterns needs refreshing
Chart PatternsTrend AnalysisWave Analysis
kavindajd

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