đź“Š S&P 500 Major Correction Looms
The S&P 500 (SPX) had a nice run, it grew for more than a month from 27-October through 29-November and is now preparing to crash.
It hit almost as high as July 2023 but not as high, it missed this level by a few points, a lower high; bearish call.
Nothing special about the upcoming correction, the same as every other time.
It goes up and down, up and down, down and then back up.
Corrections can last a few weeks or a few months, this one is likely to go for months.
There are many signals supporting such a move, so many that we don't have to look at them all.
Many gaps on the way up, the correction should be fast or at the least speed up at times... The market is in no hurry though, it will take its time to accomplish its goal.
It seems we will witness another lower high once the correction is over which can signal a long-term bear market starting to develop... But that is something for another day.
👉 Looking at this daily SPX chart, we see red coming next.
Thank you for reading.
Your support is appreciated.
Namaste.
It hit almost as high as July 2023 but not as high, it missed this level by a few points, a lower high; bearish call.
Nothing special about the upcoming correction, the same as every other time.
It goes up and down, up and down, down and then back up.
Corrections can last a few weeks or a few months, this one is likely to go for months.
There are many signals supporting such a move, so many that we don't have to look at them all.
Many gaps on the way up, the correction should be fast or at the least speed up at times... The market is in no hurry though, it will take its time to accomplish its goal.
It seems we will witness another lower high once the correction is over which can signal a long-term bear market starting to develop... But that is something for another day.
👉 Looking at this daily SPX chart, we see red coming next.
Thank you for reading.
Your support is appreciated.
Namaste.
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