An update on the previous S&P500 post.
We continue to sell off towards the 4000 target.
We have had a nice sell off over night and are near the 78% level from the last rally.
Now what we would like to see is a retracement back to 4300 to give us another short opportunity. This would tie in with the AI expected move back up over the next few days followed by another sell off into the 3900 - 4000 area completing the ABCD we have been following since the top.
We now have a second ABCD lining up with the 1.618% Extension from the Oct 1 low.
If we look at timing this would bring us in around the 23rd of March.
An alternative could see an invert on the AI and a high around 4500 completing the ABCD to the upside from where we are now.
Plenty of options on the table but still targeting the 4000 area.
I hope this helps.
We continue to sell off towards the 4000 target.
We have had a nice sell off over night and are near the 78% level from the last rally.
Now what we would like to see is a retracement back to 4300 to give us another short opportunity. This would tie in with the AI expected move back up over the next few days followed by another sell off into the 3900 - 4000 area completing the ABCD we have been following since the top.
We now have a second ABCD lining up with the 1.618% Extension from the Oct 1 low.
If we look at timing this would bring us in around the 23rd of March.
An alternative could see an invert on the AI and a high around 4500 completing the ABCD to the upside from where we are now.
Plenty of options on the table but still targeting the 4000 area.
I hope this helps.
Anmerkung
3 Drive Pattern into the low at 4000.
Anmerkung
S&P update. We have retraced into the 50-61.8% area. The 2 options now are another 50-61.8% retracement then higher prices or we are starting the move lower into the 400 target.
Anmerkung
S&P500 still tracking nicely. Now looking for a retracement to sell again.
Anmerkung
4200 has been support now if it becomes resistance that will set us on our way to the downside target of 4000.
Pattern worked nicely from the 382 yesterday.
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