In the related idea, I have expected an island retest. We got it.
After a COVID rally there is a lower high, and real S&P500 the island gap remains open. So I expect a lower low and then a big downside pressure which leads the price to the 2500 - 2600 or more. I am waiting for the breaks, the trendline and the channel break which strengthen my idea.
Any case of trading above 3200 - 3240 then it should go to the new high as the Nasdaq did!
After a COVID rally there is a lower high, and real S&P500 the island gap remains open. So I expect a lower low and then a big downside pressure which leads the price to the 2500 - 2600 or more. I am waiting for the breaks, the trendline and the channel break which strengthen my idea.
Any case of trading above 3200 - 3240 then it should go to the new high as the Nasdaq did!
Comment:
Here is the island reversal in the real S&P500:
