S&P 500 IndexShort
The end of correction?
Hi all. Welcome to my first "idea".
Market has been printing an impressive correcting rally since march lows and stopped near 0,618 of main leg.
After several bear traps it seems now is performing a bull trap near this area.
A pattern ABCD or bull flag seems to be now finishing in the point C of the graph.
The graph shows what I think will be the next move: a XABCD fibonacci pattern, first target around 2590 (1,618 of the XA leg)
The SP500 index (futures) very often expands these legs 2,0 instead of 1,618 so I think 2480 could be easily achieved very soon (within 1 month).
Market has been printing an impressive correcting rally since march lows and stopped near 0,618 of main leg.
After several bear traps it seems now is performing a bull trap near this area.
A pattern ABCD or bull flag seems to be now finishing in the point C of the graph.
The graph shows what I think will be the next move: a XABCD fibonacci pattern, first target around 2590 (1,618 of the XA leg)
The SP500 index (futures) very often expands these legs 2,0 instead of 1,618 so I think 2480 could be easily achieved very soon (within 1 month).
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