TVC:SPX This idea it´s from a beginner, using price action, Fibonacci, support, resistance and trying to think like the smart money.
For me some crises are not in the price, like real estate, bad credit, health system. The bill someone will have to pay or no one will work again, since the central banks print money!
I agree with your idea and my investor mind see it crystal clear, but after seeing how in reality this is under such manipulation and supported by thin air......not sure how much they can still lift it up before it plunges, as i´m sure it will.
The disorder between the stock market and real economy has proven to be enormous as a scared, unemployed, sick and with economy in neutral gear world is making almost new all time highs in the stock market.
Vitor_R0cha
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@jinvest, agree with you. But the market will shake and have more downside, so smart money can buy cheaper.
@pureplanet, He's looking at 1.618 extension ~1815. Certainly possible.
Vitor_R0cha
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@pureplanet, usually the price goes 61,8% from de bigger movement and 100% extension from retracement pivot. 1800 area should be a bottom but it will depend on how we get there. This level also have prior memory as support, so I think it´s very likely the market goes there.
The price now it´s on the retracement 70,5% from Fibonacci, usually market markers use this level to fool and they bring the hammer.
Price above 3000 invalidate my idea.
The disorder between the stock market and real economy has proven to be enormous as a scared, unemployed, sick and with economy in neutral gear world is making almost new all time highs in the stock market.