S&P Could Drop Back To 2532
S&P 500 could be in a final stage of counter-trend correction
within wave X, which is a link between wave W and Y.
The range was set with the wave W between 2532 on the downside and 2873 on the upside.
The index reached the area of triple resistance where current resistance (yellow), medium term (gray) and range's top (blue) intersect.
Besides that, there is a Pregnant Lady aka Harami candlestick appeared yesterday.
It is a Bearish reversal signal.
But let us watch for the breakdown of immediate support (red) for confirmation.
The Y wave could drop back to the major low established by the wave W at the 2532 level.
within wave X, which is a link between wave W and Y.
The range was set with the wave W between 2532 on the downside and 2873 on the upside.
The index reached the area of triple resistance where current resistance (yellow), medium term (gray) and range's top (blue) intersect.
Besides that, there is a Pregnant Lady aka Harami candlestick appeared yesterday.
It is a Bearish reversal signal.
But let us watch for the breakdown of immediate support (red) for confirmation.
The Y wave could drop back to the major low established by the wave W at the 2532 level.
Note
Perfect geometry! Note
the old idea with triangle played out to cancel this one
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.