SPX keeping it simple looking at the weekly chart on SPX. Using fib and basic wave theory.
There is plenty of panic in the markets right now besides one guy.
WARREN Buffet he's looking for opportunity.
The simple way to break it down is a 50% retracement from Oct 22 low to the ATH is the top of the post covid high. looking at in an Elliot wave theory 5 wave
1 is our post covid high on Jan 3 2022. Then we head to the second wave. this wave ended in October 22 the 3rd wave has ended on Feb 18th 2025. we are currently in the 4th wave. this is a correction phase. Wave 4 is 14.6%, 23.6%, or 38.2% of wave 3 but no more than 50%. it is typically 38.2% of wave 3.
Wave five will come or we free fall.
Enter a bear market and ride it out. Buffet said this people do it wrong they buy high and sell low. yes, the turmoil is high but there is always those who will be scared and run
or you find the right place to buy and take the chance.
Trump is a business man and he's doing business. he's playing chess when everyone else is playing checkers. once the 9 trillion debt that is due for refinance is taken care of do you really think he will let the market crash and him and his goons loose money? He stated he is doing this on purpose. Bring interest rates down and stocks down. Equals good buying opportunities
Hold tight it will be a wild ride.
