This is a two-part series. Part one. Will it short?
In the previous series we found two reactions in 2000 and 2008. Now, let's try to look behind the corner to see how deep the rabbit hole might be.
We take weekly chart, two SMA (monthly) 100 and 200, a yellow support area that was formed in November 2020 ("unfinished gelstate"), and three independent horizontal targets that were calculated by your humble servant.
Two possible correction targets that strongly in the chart are 3200 and 2900. Good news VIX has no indication of a big short yet. So, it's rather a wide range and we are going to land-off from 3600-3800 or we will see the price somewhere around 2900-3200.
-ks
In the previous series we found two reactions in 2000 and 2008. Now, let's try to look behind the corner to see how deep the rabbit hole might be.
We take weekly chart, two SMA (monthly) 100 and 200, a yellow support area that was formed in November 2020 ("unfinished gelstate"), and three independent horizontal targets that were calculated by your humble servant.
Two possible correction targets that strongly in the chart are 3200 and 2900. Good news VIX has no indication of a big short yet. So, it's rather a wide range and we are going to land-off from 3600-3800 or we will see the price somewhere around 2900-3200.
-ks
