Here is my thought on SPX. You all thought I went all permabull, but I was referring to this potential bounce out of this wedge that we are now witnessing.
I believe it is a leading diagonal, a completed 1st impulse wave down and we are now correcting it.
We have reached the 38.2% fib today, which is enough, but today did not feel "toppy." We may push up to the 50% or even the 61.8%.
That said, leading diagonals are just as dangerous as ending diagonals. We can fall hard at any time.
I believe it is a leading diagonal, a completed 1st impulse wave down and we are now correcting it.
We have reached the 38.2% fib today, which is enough, but today did not feel "toppy." We may push up to the 50% or even the 61.8%.
That said, leading diagonals are just as dangerous as ending diagonals. We can fall hard at any time.
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Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.