Looking at the SPY chart going back to 2016 range (yellow rectangle) and completion of 0.382 retracement from this tear's high and low we have, at minimum, a test of the recent low which is only a 0.382 extension. But an AB=CD extension takes us down to 141!
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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.