USA S&P 500 IndexShort
S&P 500 for 5200
So let's look at this index swing pattern for 2024.
1. Swing Low - Jan 5 at 4667.
2. Swing High - March 29 at 5284. Duration 30 bars and 84 days.
3. Swing Low - April 18 at 4903. Duration 7 bars and 20 days. Fibonacci 618 retracement.
4. Swing High - July 15 at 5674. Duration 31 bars and 88 days.
Next Move
5. Projected Swing Low - If we apply an 8 bar (16 trading days) duration and Fibonacci 618
retracement, there is a suggestion of
a. Price - 5200
b. Within 8 days of trading.
From there, the Bull Market has its next impulse to 6000.
1. Swing Low - Jan 5 at 4667.
2. Swing High - March 29 at 5284. Duration 30 bars and 84 days.
3. Swing Low - April 18 at 4903. Duration 7 bars and 20 days. Fibonacci 618 retracement.
4. Swing High - July 15 at 5674. Duration 31 bars and 88 days.
Next Move
5. Projected Swing Low - If we apply an 8 bar (16 trading days) duration and Fibonacci 618
retracement, there is a suggestion of
a. Price - 5200
b. Within 8 days of trading.
From there, the Bull Market has its next impulse to 6000.
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.
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.