here is another idea, which would imply another move to the downside.
may 30th, is the day a new moon appears in the sky - new moons are historically very bearish for the markets.
there is a great possibility that spy goes lower using the current bounce as a wave 4.
could look for a rejection from either the 0.382,0.50,0.618,0.65 (when pulling a fib from the low, to the top of wave (2).
if this was to play out,
wave 5 target would sit between 3672~3644.75
may 30th, is the day a new moon appears in the sky - new moons are historically very bearish for the markets.
there is a great possibility that spy goes lower using the current bounce as a wave 4.
could look for a rejection from either the 0.382,0.50,0.618,0.65 (when pulling a fib from the low, to the top of wave (2).
if this was to play out,
wave 5 target would sit between 3672~3644.75
Note
4h hidden bear ~also this little indicator i use is flashing a 4h sell up here; last few times it did this, it called the tops almost perfectly
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i only share a tiny fragment of my ideas on this platform. to view my daily work, join the lunar syndicate 9 👇
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.