Short Outlook on S&P 500
I’m still not convinced that we are going to all time highs anytime soon.. test of March lows need to happen for validation.
I’m not a perma bear but I’m skeptical of this bounce from the lows. I expect a retest, and if lower than 2200’s then I expect a drop down to 50% of February 2020 peak which is around 1600-1800 range.
Please trade at your own risk, do your research. Don’t take it as the Bible.
I’m not a perma bear but I’m skeptical of this bounce from the lows. I expect a retest, and if lower than 2200’s then I expect a drop down to 50% of February 2020 peak which is around 1600-1800 range.
Please trade at your own risk, do your research. Don’t take it as the Bible.
Note
Closed below the week below trend lineNote
We're above the .618 fib ext. This could be wave 5 as we can already see a decline. Below 2770, then we see further downside.
Note
Still appears Wave 5 was on April 30th, should be getting three corrective waves down to between 2630 to 2790 range
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.
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.