As soon as last Friday, SPX rises with very low volume. I know it will be extremely tough to trade in the next following weeks.
The gap between May 10 and 11 is filled, I personally don't see any indicator that shows it has any momentum to keep rising.
The following path I predict will be a zigzag move with the downtrend. Causing hell for both bulls and bears. We are still in the wave 1 right now with lots of up and down. This wave 1 makes me believe this correction might be longer and deeper than we previously thought.
I can say this is the leading diagonal into a bearish market. Reduce most of your position in the market. Please don't try to short it or long it at this moment if you are not familiar with this situation, you will easily catch fire on yourself.
For self-education use only. Not financial advice.
The gap between May 10 and 11 is filled, I personally don't see any indicator that shows it has any momentum to keep rising.
The following path I predict will be a zigzag move with the downtrend. Causing hell for both bulls and bears. We are still in the wave 1 right now with lots of up and down. This wave 1 makes me believe this correction might be longer and deeper than we previously thought.
I can say this is the leading diagonal into a bearish market. Reduce most of your position in the market. Please don't try to short it or long it at this moment if you are not familiar with this situation, you will easily catch fire on yourself.
For self-education use only. Not financial advice.
