S&P500 targeting 5800 based on this overlooked pattern?
The S&P500 index / US500 is testing the Rising Support of Higher Lows this week, stemming directly from the bottom of the 2022 correction.
A symmetric Support is just underneath and this pattern has various (dashed or bold) stemming from the Bear Cycle.
What many may fail to see though is a giant Inverse Head and Shoulders pattern that is forming the Right Shoulder.
If that's the case, then S&P can target the Fibonacci 2.0 level at 5800 as early as mid 2025!
Too much to ask??
Follow us, like the idea and leave a comment below!!
A symmetric Support is just underneath and this pattern has various (dashed or bold) stemming from the Bear Cycle.
What many may fail to see though is a giant Inverse Head and Shoulders pattern that is forming the Right Shoulder.
If that's the case, then S&P can target the Fibonacci 2.0 level at 5800 as early as mid 2025!
Too much to ask??
Follow us, like the idea and leave a comment below!!
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