S&P 500 IndexLong
SPX Rough estimate on SQUEEZE price action
I believe price action will suggest a zig zag all next year, but it's only building the next point of control before a two leg Wyckoff finish into the next few years. This is my projection based on fib channels. My red channel is a bear counter narrative. Think about how you may take a rally and make a down channel based on the lower high to determine pull back action. I have a very long term bear channel and both that one and my long term bull (white) channel suggest these prices. I am a slave to the fibs. So far this morning, advancing is locked at a high amount. Interestingly, volume over this week was a downward wedge, more or less, suggesting a major breakout.
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