I had anticipated a top and currently hold a short position on the index and most of the 50 stocks at 25,200. The market is now approaching the first target of 21,800. Expect a minor bounce in the short term, likely to trap retail investors. However, if the index closes below 21,800, the downward move is likely to accelerate, targeting 19,200.
Additionally, a deeper correction toward 16,900 remains a possibility and should not be ruled out at this stage.
Additionally, a deeper correction toward 16,900 remains a possibility and should not be ruled out at this stage.
Do what others don’t know, and don’t do what others know.
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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.
Do what others don’t know, and don’t do what others know.
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.