I may have found a pattern between all the corrections we've had since 2018.
There seems to be a 1.7x factor between them.
12 x 1.7 = 20.4
20.4 x 1.7 = 35
If the pattern holds true then...
35 x 1.7 = 60
If the pattern continues, then that would mean a 60% crash for SPY.
If we assume the bottom of the 60% crash follows the lower support level as shown on the chart, then that would indicate a blow off top at $500 for SPY (20% upside from current levels). 20% in only a few months would be a melt up scenario, which some contrarian analysts like David Hunter are predicting.
Anyway, just a bit of fun, not a serious piece of analysis :)
There seems to be a 1.7x factor between them.
12 x 1.7 = 20.4
20.4 x 1.7 = 35
If the pattern holds true then...
35 x 1.7 = 60
If the pattern continues, then that would mean a 60% crash for SPY.
If we assume the bottom of the 60% crash follows the lower support level as shown on the chart, then that would indicate a blow off top at $500 for SPY (20% upside from current levels). 20% in only a few months would be a melt up scenario, which some contrarian analysts like David Hunter are predicting.
Anyway, just a bit of fun, not a serious piece of analysis :)
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Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.