My favoured retracement levels are indicated in red boxes. But copied the move from that previous top back in August 2022.....BUT .... catch-22, the market is very bullish, and the AI story driving markets onwards and upwards, so this is just based on what I see and what I think... BUT
as many bears have experienced in recent months and the impetus of the AI-driven rally in technology stocks changed the sentiment for many fueled by those that will suffer from FOMO had seen the underlying and options markets getting bought without due care every day.
Powell indicated that he is not done but the market not really paying attention because post-2008 interest rates have been zero to very low and many participants don't know a high-interest rate regime, they going to learn ...
Again my opinion has been wrong before and will be wrong again but this is too much too soon, good luck
as many bears have experienced in recent months and the impetus of the AI-driven rally in technology stocks changed the sentiment for many fueled by those that will suffer from FOMO had seen the underlying and options markets getting bought without due care every day.
Powell indicated that he is not done but the market not really paying attention because post-2008 interest rates have been zero to very low and many participants don't know a high-interest rate regime, they going to learn ...
Again my opinion has been wrong before and will be wrong again but this is too much too soon, good luck
Mark Langley