S&P bottom zone with fib confluences + channel

TVC:SPX   S&P 500 Index

Action zone of fib confluence + trend channel :

  • Considering such a broad economic shutdown and health hazzard Target 2 arround 1400-1500 looks pretty sure to reach.
    I also have an argument in my mind that we did not fully recover from the from the Lehman Crisis. Most of the business are in much worst credit shape that in those times. So why cant the price reach Target 3 and then make some bottom formation.

>> “One essential 2008 comparison we tend to overlook was that during the Lehman crash outside the financial sector, life went on. In essence, restaurants took bookings; taxis took rides, shops were still bustling. This time around, the entire world is on the precipice of shutting down,” Stephen Innes, chief market strategist at AxiCorp.