S&P 500 IndexShort
S&P 500 Channel Down
So this is the S&P 500 from 21st April 2022.
We can see price is tracking down the channel
Using the last channel high / low and recent retracement , it is likely an intra-channel N wave (ABC) will develop.
So a target is given based upon
1. Price extension for the development of an N wave.
2. Time cycle ( for the 3 wave of the a potential N wave) of 9 days.
This interim target is around 3380.
We can see price is tracking down the channel
Using the last channel high / low and recent retracement , it is likely an intra-channel N wave (ABC) will develop.
So a target is given based upon
1. Price extension for the development of an N wave.
2. Time cycle ( for the 3 wave of the a potential N wave) of 9 days.
This interim target is around 3380.
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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.