themarketzone

Above 2000 again - Two bearish harmonics near 2050

FX:SPX500   S&P 500 index of US listed shares
$SPX             is back above 2000 again.
Since it's double bottom near 1880, it rallied straight to 2000 without even looking back.
1980 -2000 is the nearest support zone now and potential buy zone in case of short term pullback.

The more interesting scenario now is the bearish one, if and when $SPX             will reach the 2040-2060 zone.
Depending on where you pull the pattern from (X points), there are two potential targets between 2045 and 2065.

Potential targets for the bearish Gartleys - 2000, 1980 and 1950


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Comment: $SPX reached final target level - Enters the sell zone before FOMC
Great.
Reply
muslim_islam14 IvanLabrie
spx
Reply
This rocketed today and again after hours, any updated charts anyone?
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Now inside the sell zone. Will be interesting to see tomorrow's price action. 2060 is the top of my resistance zone.
+1 Reply
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