merakshi

SPX500USD Leading Diagonal Triangle / outlook next week

Short
OANDA:SPX500USD   S&P 500 Index
Hi all,

From my view SPX has finished a bearish LDT and is now retracing / consolidating. I expect the retracement to stop at 50% which would coincide with the peak from FEB 20.
When this happens, you can expect a very sharp downwards movement to the level marked.

Cheers,
Merakshi

Comments

ready for downturn !
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we are getting closed to 50% retracement.
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merakshi merakshi
@merakshi, be vigilant..
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merakshi merakshi
@merakshi, We have divergence in the last leg and between two last peaks.
I am expecting a triangle to unfold with a last thrust higher.

5m chart zoom.

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I see the same
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I think we get a run up into the debates and then start retracing to the 50% mark you mentioned. Just a possible catalyst
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thecsstrader thecsstrader
@thecsstrader, im sorry I meant retracing from the 50%
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