Short

S&P500 correction is almost due

Updated

It looks like the price has touched the top line of the trend and should be due for a short term correction towards 3400 which is expected to start within a couple of weeks. After that buying should continue towards 3730 and longer term - 4150.Look for deep dips as a buying opportunity as stocks still have enough room to go up.

Note

Seems like the plan has worked out as planned - short term correction and a gradual move towards 3730 where we may experience another correction.

Note

3720 was the point where we see a pullback and it should take us down a bit. 3550 is the first level to see.

Note

3730 mentioned initially has been touched merely and we may see some pullback before a further rise to 3800 and 3900 with final target around 3960 before a bigger pullback.

Note

Its been 3.5 months since the idea has been posted and market is going the route it was showing back in September. Looking further it still seems that 4150-4180 is where the market is going to in the not so far future. But we may experience another big retracement. We don't necessarily have to but we will se when we reach 4150-4180

Note

Stocks has hit the resistance near 3780 and wait for pullback before buying again

Note

3800 just been reached and we may witness a small pullback before another rise towards 3900

Note

3900 was reached, spiking to 3960 and now needs a retracements before we go for the final 4150 target

Note

4150 target is very near and it may take several more months for a deeper correction to come.

Note

7 months and 4150 target has been hit. Now price may touch 4300 before reversal but otherwise best to wait for a retrace for a good buying spot.

Trade closed: target reached

Congrats to all who held the positions

Erland

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