A quick long term scenario on the S&P 500
This a a basic overview of The S&P 500 on a one month time frame. Charting too completely can hinder my overall vision, so I chose a very simple strategy/method. If 3000 was the top then I believe that we will see an eventual drop to the previous all time high of 1500. There are support lines along the way corresponding to fib. levels, but I believe that we will only visit them briefly. This process will take many, many months. Most likely over a year, but timing depends on market participation and conditions. I am taking a long term position, not a day trading position.
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.