ersuleimen1

SPY is headed to the next major level of resistance

AMEX:SPY   SPDR S&P 500 ETF TRUST
I believe that we finished our 5 waves in Feb 2020, completed an A wave correctional wave with the COVID selloff, headed to current levels in the B wave.
In my humble opinion, we could be in an expanded flat corrective ABC waves. If this count is right, what comes after B wave? Yes - C wave.

Here are the normal Fibonacci Ratio Relationship for an expanded flat ABC corrective waves.

• Wave B = 123.6% of wave A
• Wave C = 123.6% – 161.8% of wave AB


Disclaimer: No one (among human beings) really knows what will happen in the market. This analysis is merely my interpretation of the current price action. Please invest/trade at your own risk, with a reasonable risk management system.

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.