If the markets are about to continue going down, here is a possible scenario.
Using Elliott wave, this would be the simplest target, a basic ABC corrective wave.
We haven't finished the end of the B wave, so this projection is a bit premature. The target and channel is just a guess for now, I will update once we start to see a more complete B wave, but I can't see it going up much longer.
Also notice, the bottom of this C projection is at an interesting level, its the previous two tops of the SPY.
I have seen counts online that this is indeed the start of a larger impulse wave, that would bring us down even more, so this would make this a conservative estimate in comparison!! Ill stick with this target for now.
Using Elliott wave, this would be the simplest target, a basic ABC corrective wave.
We haven't finished the end of the B wave, so this projection is a bit premature. The target and channel is just a guess for now, I will update once we start to see a more complete B wave, but I can't see it going up much longer.
Also notice, the bottom of this C projection is at an interesting level, its the previous two tops of the SPY.
I have seen counts online that this is indeed the start of a larger impulse wave, that would bring us down even more, so this would make this a conservative estimate in comparison!! Ill stick with this target for now.
ملاحظة
Heres a picture of the level when zoomed out to monthly chart:
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.