S&P 500

22 May 2020 ‚óŹ 08:00 AM

If there is any chart that can appear risky it is this. The S&P 500 is at the 66% retracement mark and stopped there. So if prices do start to roll over to the downside from here it would be a concern. Especially if it accelerates and is impulsive. Then we are in wave C down and would change the immediate view on everything. What can also happen is that the index can reain in the 2800-3000 range for a prolonged period before rolling over. Alternately if it goes above the 3000 mark I would look for more bullish alternate wave counts, like the Nasdaq.

snp 220520

Comments (0)


Latest Articles