This trendline in SP500 would be a cause to pause before getting bulled up. A test of the underside of the line seems appropriate.
Good news for bulls is that the Jan 26-29 sell off appears to be an Elliott Wave zigzag pattern. This gives the market a higher probability of reaching another new high. Perhaps it meets the trend line in new high territory?
Good news for bulls is that the Jan 26-29 sell off appears to be an Elliott Wave zigzag pattern. This gives the market a higher probability of reaching another new high. Perhaps it meets the trend line in new high territory?
Test your Elliott Wave readiness.
Free assessment + bonus training videos customized to your score:
qwiz.seethewaves.com/ewreadiness/p/tv1
Free assessment + bonus training videos customized to your score:
qwiz.seethewaves.com/ewreadiness/p/tv1
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.
Test your Elliott Wave readiness.
Free assessment + bonus training videos customized to your score:
qwiz.seethewaves.com/ewreadiness/p/tv1
Free assessment + bonus training videos customized to your score:
qwiz.seethewaves.com/ewreadiness/p/tv1
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.