Looks like wave 4 correction is over. If this is the case we will not close over the lows of late 2021 where I put a 1. The actual low is not always the close as there is a b or wave 2 correction that sometimes extends above/below the last wave. (Big money taking out stop losses) So somewhere around 453 is my estimate from fib extension.
This would confirm we are still in correction wave A and moving to Wave 5. This is many times a violent move. Looking back at 2008/2009 would confirm a swift move down.
Wave B following wave 5 could bring us back to test ATH (May-June maybe) Although B could also be short.
Should be fun. I think we bottom late 2022. Maybe Elon has been telling us 12/9 is date for bottom.
On the other hand I have seen some very bullish options on Tesla which has thrown me off but a single stock could still pump while overall market dumps.
This would confirm we are still in correction wave A and moving to Wave 5. This is many times a violent move. Looking back at 2008/2009 would confirm a swift move down.
Wave B following wave 5 could bring us back to test ATH (May-June maybe) Although B could also be short.
Should be fun. I think we bottom late 2022. Maybe Elon has been telling us 12/9 is date for bottom.
On the other hand I have seen some very bullish options on Tesla which has thrown me off but a single stock could still pump while overall market dumps.
Commento:
I realize this is ES mini futures and not SPY
Idee correlate
Still Short on SPY
ZaphodBeebz
about SPY