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:
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.