SP500: Medium-Term Consolidation

SP:SPX   S&P 500 Index
In monthly time frame, we see a possible development of "C Area" and potential arrest of technical rebound, we think that from this area, could start a second bearish leg with potential test 50MA developed with (a) AB=CD bearish pattern . TARGET 1 @ 1.895 (d AREA) and TARGET 2 @ 1.795 (D AREA) and a stop protection above 88.6AB or HS.
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bicktash muslim_islam14
any words to accompany your thoughts?
Hate to break it to you, but you are looking in wrong direction. SPX is getting ready to make new highs. They will first exhaust this range. XLF will lead the way. I hope people don't get too short. They are luring shorts in like crazy.
SignalSwiss play4trade
thanks for your opinion! happy trading!
Very nice. Thanks again for all of your fantastic posts! I am seeing the similar for the Nasdaq
+2 Reply
Thanks for sharing. I'm a newbie and wonder what level is 88.6AB or HS? Nice weekend!
+1 Reply
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