If the markets are about to continue going down, here is a possible scenario.
Using Elliott wave, this would be the simplest target, a basic ABC corrective wave.
We haven't finished the end of the B wave, so this projection is a bit premature. The target and channel is just a guess for now, I will update once we start to see a more complete B wave, but I can't see it going up much longer.
Also notice, the bottom of this C projection is at an interesting level, its the previous two tops of the SPY.
I have seen counts online that this is indeed the start of a larger impulse wave, that would bring us down even more, so this would make this a conservative estimate in comparison!! Ill stick with this target for now.
Using Elliott wave, this would be the simplest target, a basic ABC corrective wave.
We haven't finished the end of the B wave, so this projection is a bit premature. The target and channel is just a guess for now, I will update once we start to see a more complete B wave, but I can't see it going up much longer.
Also notice, the bottom of this C projection is at an interesting level, its the previous two tops of the SPY.
I have seen counts online that this is indeed the start of a larger impulse wave, that would bring us down even more, so this would make this a conservative estimate in comparison!! Ill stick with this target for now.
Nota
Heres a picture of the level when zoomed out to monthly chart:
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Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.