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S&P 500 Index
Long

Will the S&P500 make my 3900 target in a limp bull channel?

By isabellaalexandra
I hate trading these weak and drifty channels. If it were a stronger recent move up I'd be looking at the 618 fib extension at about 4100 as my target. Nevertheless, it's looking for a 2nd measured leg up, which would conclude at about 3900 or so. Provided it doesn't pull back below 3510, I think it will keep drifting its way to the 50 fib ext. I'll also be taking some off the table at the 382 fib ext around 3760.
Chart PatternsTechnical IndicatorsS&P 500 (SPX500)SPDR S&P 500 ETF (SPY) Trend Analysis
isabellaalexandra
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