SPX retesting the 161 of March 2020 after a break
See previous below.
SPX can chop around this level for a while. I think there's a strong chance of an massive sell-off from a retest of it, but even if this is happening it can range for a long time. So, this "Might be it" - but there's also a lot of anti-climax scenarios.
Most crashes start with a breaking and rejection of this 161 fib level from the last big drop.
Wanting to document the tests/breaks of this, because in my experience next comes some big news event. And if you try to tell people about the 161 top signal after, they'll say - "Oh yeah ... which magic line was it that told you *repeats the news*"
And I want to be able to say, "This one!"
4150 is where that line is. We're retesting it on the 7th June, 2021.
Learned in the March 2020 high one should be very specific about these things. News can be very distracting.
SPX can chop around this level for a while. I think there's a strong chance of an massive sell-off from a retest of it, but even if this is happening it can range for a long time. So, this "Might be it" - but there's also a lot of anti-climax scenarios.
Most crashes start with a breaking and rejection of this 161 fib level from the last big drop.
Wanting to document the tests/breaks of this, because in my experience next comes some big news event. And if you try to tell people about the 161 top signal after, they'll say - "Oh yeah ... which magic line was it that told you *repeats the news*"
And I want to be able to say, "This one!"
4150 is where that line is. We're retesting it on the 7th June, 2021.
Learned in the March 2020 high one should be very specific about these things. News can be very distracting.
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