Did this chart Monday June 15th, sharing it now.
The movement from March lows in April seems really similar to last few days.
We are overextended and will need to correct again.
Will we reach Goldman Sachs Bear target of
SPY 250? Likely...
Lows in March:
Highs in June:
The movement from March lows in April seems really similar to last few days.
We are overextended and will need to correct again.
Will we reach Goldman Sachs Bear target of
SPY 250? Likely...Lows in March:
- breaks 12 year trendline below (yellow)
- breaks 12 year trendline above (A)
- retests trendline (B)
- breaks out and continues reversal (C)
Highs in June:
- breaks 5 year trendline above (yellow)
- breaks 5 year trendline below (A)
- retests trendline (B)
- breaks down and continues reversal (C) ?
Note
Seems like trend is keeping in the right direction so far.Gap down open Monday very possible.
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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.