Dr_Roboto

S&P 500 Exhaustion gap up or melt up???

AMEX:IVV   ISHARES TRUST CORE S&P 500 ETF
Note that it stopped at S/R line this morning. This is just a touch above the 0.618 fib level between recent bottom and ATH . Is it going to rally past and melt up or was this a last gasp before correction?

Close up.
Comment: At teh 1H, RSI oversold, MACD up with previous highs. Feels a lot like the end of August.

Comments

Yes just like August. Not betting on Fri pm what might happen Mon am, lol. Trump wants to pump and will surely tweet Sun nite...
+1 Reply
Dr_Roboto DaddySawbucks
@DaddySawbucks, I've had this same feeling 2x in the since March: beginning of June and end of August. Both ended with a bang. Totally agree, going to have to wait until next week. Maybe the 15th for a Thursday drop like last time.

Looks like NDX still has some running room after it was consolidating for the last week. Burned off some momentum for one big push IMO.
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