SPX Running out of steam
Following a similar pattern from the Brexit trade:
It took about 26 trading days before the market dropped lower. If we are following that same path, it will be around February 6th before we drop again.
The blue horizontal lines represent Fib time zones. We are due for a change in direction around the time zones, see previous blue lines on chart, and so a correction may happen soon than February 6th.
Also, note the RSI decline while prices are flat.
It took about 26 trading days before the market dropped lower. If we are following that same path, it will be around February 6th before we drop again.
The blue horizontal lines represent Fib time zones. We are due for a change in direction around the time zones, see previous blue lines on chart, and so a correction may happen soon than February 6th.
Also, note the RSI decline while prices are flat.
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