SP500 - ABCD Target hit!!
Updated
S&P500 has just hit a critical level which will decide the further movement of the market.
We have major levels coming together firstly with the ABCD down from the ATH then we have the 1.618% Extension from the OCT low to the ATH.
We are also at the - 1 Standard deviation level which is where the options guys for this week buy futures to protect thier positions which can cause a rally.
However if we get down below 3920 then we start looking at 3700 or lower. Short term we are at a critical retracement level. I will post this in the idea update section.
Also AI has a run up for the first part of the day..
Another issue is the fact that we have completed the C-D leg quicker than the A-B leg by a week, another reason to be cautious.
But we have fear in the market so is it time to be greedy??
I hope this helps. Enjoy the day. 👍👍
We have major levels coming together firstly with the ABCD down from the ATH then we have the 1.618% Extension from the OCT low to the ATH.
We are also at the - 1 Standard deviation level which is where the options guys for this week buy futures to protect thier positions which can cause a rally.
However if we get down below 3920 then we start looking at 3700 or lower. Short term we are at a critical retracement level. I will post this in the idea update section.
Also AI has a run up for the first part of the day..
Another issue is the fact that we have completed the C-D leg quicker than the A-B leg by a week, another reason to be cautious.
But we have fear in the market so is it time to be greedy??
I hope this helps. Enjoy the day. 👍👍
Note
3min Chart with the AI added for the Asia/Europe session.
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