Where's the next bottom? It's certainly interesting.
Blue Line - Sept-October support
Orange Line - Feb High Pre-Covid
Black Line - Bottom of channel 2012-2020 upward trend
Personally, I think the fundamentals of the economy are worse than they were pre-COVID (unemployment, forestalled foreclosures & evictions, bankruptcies, businesses closing...), which means we should logically go down around the Orange Line and lower.
Wave Analysis suggests were in a C leg of a correction, and only due down to somewhere just above the Feb ATH support.
*NOT FINANCIAL ADVICE - NOT A FINANCIAL ADVISOR*
Blue Line - Sept-October support
Orange Line - Feb High Pre-Covid
Black Line - Bottom of channel 2012-2020 upward trend
Personally, I think the fundamentals of the economy are worse than they were pre-COVID (unemployment, forestalled foreclosures & evictions, bankruptcies, businesses closing...), which means we should logically go down around the Orange Line and lower.
Wave Analysis suggests were in a C leg of a correction, and only due down to somewhere just above the Feb ATH support.
*NOT FINANCIAL ADVICE - NOT A FINANCIAL ADVISOR*
Note
Blew through 282 today, now down to 274, and then we'll see "How Low Can You Go?"
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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.
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.