Hmm must admit that I was expecting to have a FIBretrace on the S&P 500 already.
The levels, to look for a FIB retracement, are now 2490 and around 2390 area (both previous tops).
We just had a bounce of 2490 level, if we close below this level during the week, then I will expect a new drop to 2390.
As before,
Shallow retracement (FIB 0,3-0,5) the bear market will resume right away.
Deeper retracement (FIB 0,5 and above) we are "on pause" properly until beginning of January.
The levels, to look for a FIB retracement, are now 2490 and around 2390 area (both previous tops).
We just had a bounce of 2490 level, if we close below this level during the week, then I will expect a new drop to 2390.
As before,
Shallow retracement (FIB 0,3-0,5) the bear market will resume right away.
Deeper retracement (FIB 0,5 and above) we are "on pause" properly until beginning of January.
Comment:
We are very close to the extended FIB extension, probability is very high that we will see the bounce on next opening day of the exchange(s). Time for me to go long on oversold stocks
