Dr_Roboto

S&P 500 - Coincidence or not???

OANDA:SPX500USD   S&P 500 Index
Interesting that those 3 trend lines intersect right at the peak created by the COVID vaccine news the other week. It also happens to perfectly hit the 1.236 fib extension off the March low. If you did not know, 1.236 is the highest amplitude a corrective wave can go. If it breaks higher than that, it is a motive wave and not corrective.

Close up

If it is corrective, then this is my guess what a correction may look like.

Comments

@Dr_Roboto , Correction to 1800 is a good thing for long term investors.
+1 Reply
karl_jr kishnara
@kishnara, with all the money created out of nowhere ?!?!
any level below 2k is history now
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Interesting..!
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I would say this information is possibly the most valuable to consider right now as I was naively under the impression that because we made ATH that it was automatically an impulse wave.

That makes a lot of sense....
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Amazing
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If I were about to my put, I'd expect it to test 3400 at least, round the Feb ATH
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