Some ideas on where we may end up in coming months . 1. top 300-312 2. early May retrace to 275 3. bounce from 275 (fib .38) and slow bleed to pre election to 265 4. Oct/Nov/Dec election rally to 312-340 5. Early 2021 start of bear market bottom range in bear market 265 to abyss
Looks like market, against all odds, wants to take it to 220 level.
This chart is an update to what I did two days ago. I thought the target was 280 with possibility of going as high as 290. I am convinced the target is 290 now. The new rising wedge pattern closes at strong resistance of initial bounce and its at around 290. Thursday session felt like top curving down. Was it a top?, I dont' think so just yet. Rising wedge...
I think tomorrow we'll start the day with gap down or pull back to 268, then continuation of the rally up to 280. Early next week, we should have pull back from 280-290 back to 263.50. test 273 and if rejected we go down again. I dont think anymore we'll be testing 219, the double bottom may be at 244. I am not short or long; day trading for the moment, but had...
I am not someone with long experience in charting, but had some luck recently in predicting chart moves, so thought I may share it.