S&P 500 Large Cap Value ETF (IVE) 2.618 Wave 5 Target
Assumption: Discrediting the abnormal wick down in Wave 1 as an outlier that does not affect the overall wave count.
While the overall S&P 500 Index has already reached a 4.236 Extension this cycle (which typically marks the top and end of a Bull run), the S&P 500 Large Cap Value Index has not yet reached such heights.
Wave 3 (ending at the C-19 sell-off crash) reached an overall height of 1.5x Wave 1. If Wave 5 repeats the height of Wave 1, that would put its peak at the 2.618 Fibonacci Extension, which would make it a reasonable target within reach.
While the overall S&P 500 Index has already reached a 4.236 Extension this cycle (which typically marks the top and end of a Bull run), the S&P 500 Large Cap Value Index has not yet reached such heights.
Wave 3 (ending at the C-19 sell-off crash) reached an overall height of 1.5x Wave 1. If Wave 5 repeats the height of Wave 1, that would put its peak at the 2.618 Fibonacci Extension, which would make it a reasonable target within reach.
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.