According to wave analysis this has further correciton
SPy can keep on falling to the signlaed tgt's. Technically speaking broadening bottom structures do present movements. Trade safe!
It could retest circa 1375/1411 area, as long as oil keeps on falling to 21-22 area and it stays there for a while. Excess liquidity that Central Banks are inyecting to the system are generating this huge swings in all financial assets
This doesn't looks good neither in geopolitic terms nor in economics terms.
Looks like a cup and handle under construction
Looks something like this
Guidelines • Impulse wave subdivide into 5 waves. In Figure 2, the impulse move is subdivided as 1, 2, 3, 4, 5in minor degree • Wave 1, 3, and 5 subdivision are impulse. The subdivision in this case is ((i)), ((ii)), ((iii)), ((iv)), and ((v)) in minute degree. • Wave 2 can’t retrace more than the beginning of wave 1 • Wave 3 can not be the shortest wave of the...