SP500 - Why would 3295 be the bottom of the correction?
Fib retracement levels from the bottom of the covid crash to the top doesn't match 3295.
Fib retracement from the last correction to the top doesn't match.
I don't see any prominent support channel vectors at 3295.
The big red line doesn't seem to land on any interesting historical levels.
RSI is maxed out, and the MACD just crossed bearish while already under... that seems ominous to me!
As discussed in my previous post, the pattern of this correction thus far is striking similar to the start of the Covid Crash.... which has a long way down to go if it repeats.
The Vix is mellowed out again around 21... is this the calm before the storm?
OR.... does everyone have more money in savings to buy Apple and Tesla at a still hyper inflated "bargain" right now?
A major correction is long overdue... and the Fed's recent policies seems to be like a sugar high for the market... keeps it up, until it crashes.
This should be a very exciting week of trading ahead of us!
Good luck!
Fib retracement from the last correction to the top doesn't match.
I don't see any prominent support channel vectors at 3295.
The big red line doesn't seem to land on any interesting historical levels.
RSI is maxed out, and the MACD just crossed bearish while already under... that seems ominous to me!
As discussed in my previous post, the pattern of this correction thus far is striking similar to the start of the Covid Crash.... which has a long way down to go if it repeats.
The Vix is mellowed out again around 21... is this the calm before the storm?
OR.... does everyone have more money in savings to buy Apple and Tesla at a still hyper inflated "bargain" right now?
A major correction is long overdue... and the Fed's recent policies seems to be like a sugar high for the market... keeps it up, until it crashes.
This should be a very exciting week of trading ahead of us!
Good luck!