Hi Everyone,
Sharing my thoughts on S&P 500 using a couple of my favorite tools.
The blue vertical lines are Fibonacci time zones, and you can use them in similar way that you use Fib retracement levels. When you connect two similar events (like declines in Jan'18 and Oct'18, you will get extrapolated series of dates when this trend can come back.
As you can see, line #3 matches the crash in Feb'20, and #4 points to July 2021. You could argue about #2, and despite this is just a repetition of #1, it is possible that #5 will also not work out.
The green are is major support at $2,000 mark. As you can see, it's a historical top in 2015-2016, and a lot of buyers will be eyeing that area.
Let me know what you think.
Vova
Sharing my thoughts on S&P 500 using a couple of my favorite tools.
The blue vertical lines are Fibonacci time zones, and you can use them in similar way that you use Fib retracement levels. When you connect two similar events (like declines in Jan'18 and Oct'18, you will get extrapolated series of dates when this trend can come back.
As you can see, line #3 matches the crash in Feb'20, and #4 points to July 2021. You could argue about #2, and despite this is just a repetition of #1, it is possible that #5 will also not work out.
The green are is major support at $2,000 mark. As you can see, it's a historical top in 2015-2016, and a lot of buyers will be eyeing that area.
Let me know what you think.
Vova