Hello, according to this fib setup we could see spx go as low as 3600, previously i was eyeing 3900 range but after some more thoughts and current ukraine conflict im a little more bearish.
Ofcourse one got to watch the conflict in the next month´s and may reevaluate this setup.
If this is the beginning of a world war we sure go (way) lower but i wouldnt expect this at this point and looking forward for 3600 to hold.
Personally not shorting it as the train already left the station.
After all, its not surprising that spx wil go into a bigger correction after an insane runup the last 2 years.
Overall bulltrend is still intact (yet).
Ofcourse one got to watch the conflict in the next month´s and may reevaluate this setup.
If this is the beginning of a world war we sure go (way) lower but i wouldnt expect this at this point and looking forward for 3600 to hold.
Personally not shorting it as the train already left the station.
After all, its not surprising that spx wil go into a bigger correction after an insane runup the last 2 years.
Overall bulltrend is still intact (yet).
Comment:
buying some at 3900-4000 seems reasonable too if you have longterm horizon/no margin but definitely have spare money to buy lower.
