📉Following on from my recent post outlining a scenario for closing the downward gap, which was successful:
📉It is time to continue my scenario for the s&p500 declines:
📉The situation currently looks like this after the closing of the falling gap. The session opened significantly higher just inside the resistance zone defined by the 0.618 level, also a gap up this time.
📉Which has now closed and we have made a slight upward inescence climb yet.
📉In my opinion, from this point onwards, the next wave of stock sell-offs will begin, which will cause the index to fall to the first support set by the 1.272 level of the current upward wave and maybe even lower.
📉The scenario I am playing out is to continue the decline and watch how the price will react at the support zone,
📉*Please do not suggest the path I have drawn with lines this is only a hypothetical scenario for further increases.
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