InvestMate|S&P500 Where do we fall from here?📉

📉S&P500 Where do we fall from here?

📉That's as I predicted to perfection in my last post from where the S&P500 will fall:

📉This time I would like to update my outlook for the next few days.

📉 Outline the possible levels to which the price can go

📉 As we can see this is the 3rd day of declines in a row on one of the world's largest indices.

📉 Ahead of us there is a powerfully strong support zone which in my opinion will play a key role in the coming days/weeks.

📉 It has been determined by a cluster of as many as 4 fibo levels. The first is the 0.382 level of the entire upward wave from the bottom to the last peak. The second is the 0.5 level of the same wave. The third is the 0.382 level of the entire upward wave from covid bottom to ath. The fourth level is the 0.236 level of the entire upward wave from the 2009 bottom to the ath peak.

📉 This is a very strong support zone indeed which I think will play a key role in the upcoming trading sessions.

📉 The resistance zone has been determined based on the recent peaks.

📉 The scenario I am playing out is a continuation of the declines to the levels of the support zone. I would like to point out that we are at the 0.236 level of the entire upward wave from the bottom to the top of the current upward wave. Some sort of price stop or upward correction can be expected at the current location. I'm aware of the possibility of a correction at any time, this should be taken into account, If the outlook changes I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully.

📉 *Please do not suggest the path I have outlined with lines it is only a hypothetical scenario.

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