Looks like there's the potential for the development of a shark pattern with a rather fast rise in the value of the SPX, to the point of reversal near a developing downward trend line.
A reveal here would correspond w/ a corrective c wave extending to 0.618 AB, which adds to the impulsive upward move.
Just an idea. SPX looks a little over sold in short term; although longer term rate rises are putting downward pressure on risk.
A reveal here would correspond w/ a corrective c wave extending to 0.618 AB, which adds to the impulsive upward move.
Just an idea. SPX looks a little over sold in short term; although longer term rate rises are putting downward pressure on risk.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.