SP500 - Daily
How high does a ball bounce before heading back south?
We saw a fast re-test of the megaphone channel bottom last week which can be viewed as a FOMO move as people turned to risk on after a three-week decline. Sellers came back at week close, pushing the price down below the trendline - again acting resistance.
For week 14, I'm expecting the price to retest the previous bottom with a second target at Fib 50% of the 2009 rally. In my opinion, it is still too early to say whether we have establish a solid bottom or not, and the coming weeks will give us the answer. With that said, I'm still negatively positioned until we come down to the 2009 levels for a new evaluation of the price action scenario.
We saw a fast re-test of the megaphone channel bottom last week which can be viewed as a FOMO move as people turned to risk on after a three-week decline. Sellers came back at week close, pushing the price down below the trendline - again acting resistance.
For week 14, I'm expecting the price to retest the previous bottom with a second target at Fib 50% of the 2009 rally. In my opinion, it is still too early to say whether we have establish a solid bottom or not, and the coming weeks will give us the answer. With that said, I'm still negatively positioned until we come down to the 2009 levels for a new evaluation of the price action scenario.
פרסומים קשורים
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.