A few times it has faked us in strong weekly rallies but overall since the top marked in July14, the extension up has only been 5%.
We are all eyeing a rally to 2140 but it may not happen.
From Friday close, seems look weak but depending on the news this week and potentially helped by WTI, SP500 could potentially climb 4% back to 2080.
Given the posture on DAX, if a rally occurs this week, 2060/2080 would probably be a short of decent magnitude (7/10%). After this (if happens), SP500 could mark a large squeeze and then a potential crash.
I am not sure of anything... there will be legs that coincide with both the bull and bear scenarios and that shall be traded.
Comments
themarketzone
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Like your idea. I've been monitoring these trend lines also. I think that a good confirmation will be if the week will also close below 2000
cooney_s
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or it could be like this....
YaKa
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agree with that path..
i hope it starts as you display... a bit tough. let's see.