With consumer confidence off at circuit breaking levels, the market, technically, has reached extreme levels of support. Let's look at it:
Technicals:
(1) Horizontal Levels of support
(2) 50%/61.8% fib confluence
(3) exDiv1
(4) extreme indicators
(5) Chikou span testing cloud support
(6) 28% drop is SPX
All of these levels are lining up around the same location. And just like in real estate "Location! Location! Location!" is the adage; in markets, "Confluence! Confluence! Confluence!" is the adage!
Technicals:
(1) Horizontal Levels of support
(2) 50%/61.8% fib confluence
(3) exDiv1
(4) extreme indicators
(5) Chikou span testing cloud support
(6) 28% drop is SPX
All of these levels are lining up around the same location. And just like in real estate "Location! Location! Location!" is the adage; in markets, "Confluence! Confluence! Confluence!" is the adage!
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Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.