2 scenarios 1. correction is done and started to resume lower 2. complex correction to make new high before lower. as long as it moves below recent high, it can extend lower.
correction lower accounting fraud "Sell the rally"
as long as it stays above 20340 it will extend towards 21300. See what happens when the level is reached.
as long as it stays below 0.8136, it will try the all time low or break below before start new uptrend.
rebound will fail and start to trade lower towards $1000. then start to make a way to new high with wave 5. This index shows the clearest chart among indices so I will closely follow this.
An important low is in in this case and it have already started to resume higher. This is one of two cases that are in my mind. Correction pattern is similar to the one in 2015~2016. 1.1a=c Another case will be posted after this.
rebound will likely to fail between 109+~111+ if could be triangle. if breaks below recent low, it can test 100. Worst case scenario, 91 is possible then rebound strongly to 150~175 in coming years. My take is dip to 95 in coming months then rebound strongly to take out 125.
expected to be between $2600~$2739 and bounce will fail. at least 3 wave correction lower or make new low and bounce again.
112++ (75 & 100 Daily MA ) is short term support. TNX also reached support area (a=c @ 3.05%) Waiting for rebound towards 113.5-+-
you can find the path in the following periods Feb~Mar 2018 Aug~Sep 2015 Feb~Apr 2014
@ 0.9a=c a=c @ $196 and see if there will be more buys to appear as AMZN did so.
Finished trading above 100MA last week. SPX500 kept above 75MA. PER 12.37 Short sell ratio 48.4% 50% retracement @ 22636
2006 2010 2014 supported at 75MA in weekly chart. We are at 75MA right now.