cmharkey

S&P500 Fib Extension to 2123 Area Before Correction Down

FX:SPX500   S&P 500 index of US listed shares
None of the indicators show absolutely that we are in correction just yet (monthly and weekly view).
On the daily in previous post I've noted where we've been and why we'll bounce up again.

This chart shows the Fib Extension has not yet hit 1.618.
Pair that will indicators not clearly showing correction and you can see how a weak climb recovery currently in progress will lead to a weakened momentum. If this occurs we will clearly be able to see that we're at the top and would thus begin the downward decent.

Speculation of course.
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