This is my view on the SPX500
I believe there will be a last effort to drive prices higher; one to two more extensions which target the 127% Fib extension and the 168% Fib extension of the last bullish range.
I also see the start of a strong divergence in the RSI(14) and there could be a third maximum peek to complete the Fib extensions mentioned before.
Trying not to get too much into fundamentals, technically this is an interesting buying opportunity for there is still a strong support area being respected.
Illustrated are the 3 options/outcomes I think are likely to occur.
Don't sell your beds... yet...
Best of luck!
I believe there will be a last effort to drive prices higher; one to two more extensions which target the 127% Fib extension and the 168% Fib extension of the last bullish range.
I also see the start of a strong divergence in the RSI(14) and there could be a third maximum peek to complete the Fib extensions mentioned before.
Trying not to get too much into fundamentals, technically this is an interesting buying opportunity for there is still a strong support area being respected.
Illustrated are the 3 options/outcomes I think are likely to occur.
Don't sell your beds... yet...
Best of luck!