What Comes Next For The SPX? Short

S&P 500SP

Description

⋅ Mar 6, 2020 9:17 PM

Just a quick follow up on my last update for the SPX... I see more red.

After prices dropped the first time I was expecting a bounce and it took place... Now we are seeing a higher low... It won't do much.

I believe there will be another failed attempt at resistance before prices start to move lower.

The Coronavirus situation will get worse before it is fully gone... The index will recover long-term.

That's my opinion of course.

Thanks a lot for reading.

Namaste.

Comment

⋅ Mar 16, 2020 4:02 PM

All the targets are being hit.

Comments

JMC9130

⋅ Mar 13, 2020 7:06 AM

legend idea..

AlanSantana

⋅ Mar 16, 2020 4:02 PM

@JMC9130, Thanks.

g64389057

⋅ Mar 18, 2020 4:41 AM

Namaste sir,
Any thoughts where we head from here ?

AlanSantana

⋅ Mar 18, 2020 7:10 AM

@g64389057, Not sure... Either way is possible but the bears have full control.

DaddySawbucks

⋅ Mar 17, 2020 12:29 AM

DT extension from 6 Feb 2018 thru 24 Dec 2019 coincides with the 2.272 Fib at 2K...

DataPatron

⋅ Mar 7, 2020 12:12 PM

this one is really nice!

AlanSantana

⋅ Mar 7, 2020 2:10 PM

@DataPatron, Thanks.

DaddySawbucks

⋅ Mar 6, 2020 10:51 PM

See my related post. Eerie similarity to Feb 2018. If price pattern holds expect second bottom at 2790 +/-20. History never repeats exactly; but we have a commonly recurring 'h' pattern unfolding.
I expect it to put in second bottom next week. Could be a surprise Monday and rally; all rallies this week were crushed under intense distribution. The Hammer Doji we got today suggests developing support.