SPY 538 Top to 506.
We’re in wave 5 of an ABC correction. We’re approaching 538 which is the 20 and 50 ema daily. Volume is declining as price rises. EMA’s have death crossed. 506 lines up as a 1:1 move on wave 1. We’ll get a 5 pattern move to the downside into 506 over the next week or so.
The 100ema is in the 506 range and I expect it to hold. This will then signal a bounce which will look like a rally, stalling at about 540-545 before a final move to the downside around 470-475ish which is around a 1.6 move from my wave A. This also lines up which the long term ascending trend line from Covid lows.
The 100ema is in the 506 range and I expect it to hold. This will then signal a bounce which will look like a rally, stalling at about 540-545 before a final move to the downside around 470-475ish which is around a 1.6 move from my wave A. This also lines up which the long term ascending trend line from Covid lows.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.