The S&P 500 is creating a very large correction pattern.
When the market reaches the monthly supply zone, a large W-X-Y structure running flat pattern is completed, and when it stays below the red line, a downward wave is initiated.
In order to make the last correction pattern, a rebound is needed near the weekly demand zone, and it seems that it will be able to rebound after next week's FOMC meeting.
If so, it looks like we will see a bear market rally from the end of this year to the beginning of next year.
If you want to buy, look for opportunities in the weekly demand zone. And if you want to sell, look for opportunities in the monthly supply zone.
When the market reaches the monthly supply zone, a large W-X-Y structure running flat pattern is completed, and when it stays below the red line, a downward wave is initiated.
In order to make the last correction pattern, a rebound is needed near the weekly demand zone, and it seems that it will be able to rebound after next week's FOMC meeting.
If so, it looks like we will see a bear market rally from the end of this year to the beginning of next year.
If you want to buy, look for opportunities in the weekly demand zone. And if you want to sell, look for opportunities in the monthly supply zone.
Trade active:
Look for buy opportunities.
Trade active:
The goal seems to be modified to a slightly higher position.