I have adjusted the trend lines and dates accordingly. I have also shown the retrace we could see today; seeing as how we are seeing signs of bearish activity, we could retrace as far as the .236 (3708) or even the .382 (3623) FIB if we are feeling frisky, but we may also bounce off the trend line and head back up. Because of this uncertainty, I would still be careful with the shorts. A lot of bulls still present wanting to squeeze those shorts tightly.
The general consensus from my reading is that 3600 is imminent., 3400 soon after.
Long story short (pun intended), dates to keep in your mind because trend lines are currently converging at:
2-2-21
3862
3-4-21
3902
4-1-21
3941
I have some more time estimates that might be of interest to you shown on SPY:
How Many Days Can SPY Stay Above a Trend Line?
Time Running Out For SPY?
Do The Math, SPY
In summation, February, March, and April are all throwing flags as months where we could finally realize the bearish market we have been waiting for so patiently.
The general consensus from my reading is that 3600 is imminent., 3400 soon after.
Long story short (pun intended), dates to keep in your mind because trend lines are currently converging at:
2-2-21
3862
3-4-21
3902
4-1-21
3941
I have some more time estimates that might be of interest to you shown on SPY:
How Many Days Can SPY Stay Above a Trend Line?
Time Running Out For SPY?
Do The Math, SPY
In summation, February, March, and April are all throwing flags as months where we could finally realize the bearish market we have been waiting for so patiently.
The prediction is in...
= FIB
= FIB