ll21LAMBOS21
Long

Can the S&P 500 Go Higher?

SPCFD:SPX   S&P 500 Index
On the left:
We have a 5 wave move up and are finishing our ABC correction.
2009-2020 bull run fib retracements in black.
Statistical probability of finding a bottom at specific zone, labeled in blue. We found a bottom on march 23rd in the 60% chance zone.

On the right: Zooming into the correction
The correction appears to be a Elliott Wave regular flat correction .

Elliott Wave Regular Flat Correction: https://imgur.com/a/muTucVi

I'm a buyer now, @$2,788 and @$2,750


T1: $3,100+
T2: Gap @$3,260 - $3,328

Comments

yeah I believe we are heading higher. Last time we dropped, everyone was so euphoric nobody talked about correction. These systems work opposite of our emotions, especially fear or we'd be buying and selling at the same time.
+1 Reply
ll21LAMBOS21 cyberluck
@cyberluck, Yeah all I hear nowadays is "raising more cash", "retest of lows", "economy terrible", "spike in corona cases if we open". Seems like the pain trade is up.
+1 Reply
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