SPX500 stalling at a lower high and 0.854 Fibonacci, made another local lower high at the 0.786 Fibonacci
This in confluence with the 1.0 and 1.236 Fib extension of wave A from the ABC-correction to the upside
Expecting and impulsive move down to the yearly close at the 0.618 Fib extension
If the 3th wave is more impuslive we could target the bearmarket lows an take the liquidity there
This in confluence with the 1.0 and 1.236 Fib extension of wave A from the ABC-correction to the upside
Expecting and impulsive move down to the yearly close at the 0.618 Fib extension
If the 3th wave is more impuslive we could target the bearmarket lows an take the liquidity there
Note
Looking for an backtest of the head and schoulders for another wave 1-2 to build up the move to the downsideThen the breakdown continues in a wave 3 of wave 3
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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.