If this isn't a bottom, it's pretty close. 5th wave could extend a bit, but it's at the bottom of the channel. Bounced off 11.7k, which is 50% retrace from Covid bottom and ATH. First target, top of the channel ~12.8k. Stop/loss 11.7k.
Below here, 10.5k is 61.8% retrace from Covid bottom; ~8k would be -50% from ATH. They're very possible, but I doubt it running straight there, from here. Expecting a short summer rally until July/August Opex. More big bear moves around Sept Trip Witch.
Below here, 10.5k is 61.8% retrace from Covid bottom; ~8k would be -50% from ATH. They're very possible, but I doubt it running straight there, from here. Expecting a short summer rally until July/August Opex. More big bear moves around Sept Trip Witch.
Note
Got close enough to target on long and closed it. Missed the short, but looking for some support here for another long. 
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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.