Hello everyone,
We have a very clear 3 wave structure here that has extended the 3rd over the 1.618% fib extension after breaking up from the ending diagonal in the intermediate 4th wave position. I wouldn't expect SP500 to fill the 3,800 or 3,600 gap anytime soon guys. So I think 4,000 or maybe , possibly over shot 3,900 worst case IMO. The 1 fib level will likely hold as strong support, but let's see.
We also know our buddy Jim Crammer is bearish, so there's that...
We have a very clear 3 wave structure here that has extended the 3rd over the 1.618% fib extension after breaking up from the ending diagonal in the intermediate 4th wave position. I wouldn't expect SP500 to fill the 3,800 or 3,600 gap anytime soon guys. So I think 4,000 or maybe , possibly over shot 3,900 worst case IMO. The 1 fib level will likely hold as strong support, but let's see.
We also know our buddy Jim Crammer is bearish, so there's that...
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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.