Not financial advice
Looking at the 3 month charts of spx we can see on the stoch rsi that we are oversold.
But there a big catch that I noticed on the Stoch RSI bottomed at -1.0 and the stoch rsi is also trading below the 2020 COVID crash with room to still move down
The Fisher has crossed down as well
I believe this is just the start of the correction that could last until mid 2024
Everything needs a reset.
Saying all that I believe we still have roughly 30% more we have to lose yet in the markets
I'd watch the stoch rsi to see when it officially bottoms on par with 2001 and 2008
Looking at the 3 month charts of spx we can see on the stoch rsi that we are oversold.
But there a big catch that I noticed on the Stoch RSI bottomed at -1.0 and the stoch rsi is also trading below the 2020 COVID crash with room to still move down
The Fisher has crossed down as well
I believe this is just the start of the correction that could last until mid 2024
Everything needs a reset.
Saying all that I believe we still have roughly 30% more we have to lose yet in the markets
I'd watch the stoch rsi to see when it officially bottoms on par with 2001 and 2008
Trade active
February fakeout confirmed.We need a monthly close above 4215 to turn bullish. This represents the 20 Month Moving Average.
You see this big fakeout up to 4200 then we dropped.
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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.
Related publications
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.