Timing is key
Short

Reaching for the extreme! on the S&P500

INDEX:SPX   S&P 500 Index
2782 24 22
Hello,

The chart was originally posted on my Dow chart ( See Link ) and has already had the 1st reaction on the RED upward fork upper parallel as expected and judging by the savage move down I expect another test at the converging lines before a larger correction is anticipated. lets see how this unfolds.

Sincerely,

TIK
What is the target for P5?
Reply
Hello Millie, I will be looking around 2025 - 2040 for signes of an exhaustion move if price pushes past the last high as this is where the converging lines are sitting. This will also complete a nice daily 5 pivot ( expanding pivot ) formation ( not shown ). Interestingly the Dow is also mimicking the same formation on the daily close up view - I have posted an updated Dow chart in the linked chart comments. Keep in mind we are already at a critical area on the two major indexes so technically price can reverse at any point.

Sincerely,

TIK
+1 Reply
millie PRO Timing is key
Thanks very much for the quick response.
Reply
Looks like the intermediate target is 1850-1985. It has to break that lower channel first.
+1 Reply
Timing is key Will Wong
I would agree with you Will, I