=> here we are tracking the highs from a wave perspective and there is a very high chance we are witnessing the market completing a 5 wave impulse move from 2016 via tax cuts. => The sell-off last month looks very much like the start of the ABC correction and sharp money saw and traded the 'A' part of the leg. => Here we see the market remaining under pressure via rates and any recovery should be treaded as counter trend (the B part of the ABC) => Applying the fib here we can see initial targets for the 'C' leg will rest at 2300/2200 => Do not jump the gun here, we are actively looking to trade the 'C' part of this corrective wave => Good luck all those trading US equities
market correction already started when bulls failed to create a new ATH. Bearish divergence was created and yes, the day after the SPX dropped. A bounce back was to be expected but I think its time to correct even more now! Let's see!