If we look only a month back, and the real meteoric rise of the market from March to Sept 3, and do a retracement, we have a log way to fall still (green lines for FIB levels).
I see us on the C wave of an A/B/C correction with a ways to go down on this leg.
*NOT FINANCIAL ADVICE - NOT A FINANCIAL ADVISOR*
61.8 FIB Retrace of Full March-Sept run, 200 Day SMA, and a nice 1.618 Wave C all pointing at the same spot to me.
Thanks for the chart.
Personally I believe we have until mid NOV. before the 3060 (or lower) downward correction takes place, based on the wave count maturity of other Indices and Dollar
Maybe 1 or 2 more dip buying on Monday, then wait to sell the week afterwards.