I would like us to retrace before we continue up, if we go up from here i expect a bigger retracement in the future and the continuation to be weaker. Bascily if you want SAAB to continue up in the long run you want a healthy retracement here.
I can see SAAB to go up to 790 based on trend-based fib extension. After the retracement, if we hold the bouncing levels.
If we look at the rising trendline from 2008 you can see that we have a strong support there around 320 SPY . The fibonachis line up pretty well with that too. We also have strong support around that level from the coronadays.
If you measure in M2 supply you can clearly see that we should atleast go down to 2000 levels, low as 2008 may be a overreaction. With the...
After the Shoulder-Head-Shoulder formation, SP500 fired a hit 'n' run candle, which was quickly dismissed.
After that, 2 attempts where made to recover, only to be rejected near shoulder level.
This time, it hit the vertical neckline once, and it'll problably hit i twice before being rejected again.
.......and history will repeat it self, and the pattern and...
