Assuming that my last target price of $1773 was correct (with the market peaking at $1775.22), we are beginning a 4.85% correction with a bottom at or near $1689.15.
This analysis averages statistics of bottom-to-bottom, top-to-top, bottom-to-top and top-to-bottom moves in the index. For this target, I used the top-to-bottom average percentage and applied it to the peak of $1775.22. I then applied total bottom-to-bottom average percentage to $1646.47. These methods provided the numbers $1690.01 and $1688.29, respectively. Averaging these two gives the target price of $1689.15, though it has about $2 worth of wiggle room.
So far I am 3/3 with this method when it comes to providing a useful target range.
Past ideas: www.tradingview.com/u/college_trader/
Follow me on Twitter: twitter.com/college_trader
Disclaimer: This information is provided for entertainment purposes and is not a recommendation to buy or sell a security.
This analysis averages statistics of bottom-to-bottom, top-to-top, bottom-to-top and top-to-bottom moves in the index. For this target, I used the top-to-bottom average percentage and applied it to the peak of $1775.22. I then applied total bottom-to-bottom average percentage to $1646.47. These methods provided the numbers $1690.01 and $1688.29, respectively. Averaging these two gives the target price of $1689.15, though it has about $2 worth of wiggle room.
So far I am 3/3 with this method when it comes to providing a useful target range.
Past ideas: www.tradingview.com/u/college_trader/
Follow me on Twitter: twitter.com/college_trader
Disclaimer: This information is provided for entertainment purposes and is not a recommendation to buy or sell a security.