ES1 SPX S&P500 TA Analysis: Bearish Deep Crab
Wow it's been one wild ride on the stock market over the past 12 months, cramming what should have been 5-10+ years worth of gains in all at once, but the party could soon be over if the bearish bias is confirmed,
Recently we have hit the 1.618 fib retrace on the S&P 500, which also happens to be confluent with a Bearish Deep Crab, and what has happened over the last 3 trading days is that we hit the PCZ of the pattern and started selling off a bit, if this is confirmed to the the top of this particular cycle then we could see a measured move of at least 2900, and even the possibility of hitting a second target of 2200 to retest 2020 lows,
and there is also the fact that many companies are reporting earnings and dump at the slightest miss, or if they have a good earnings report but murky guidence
Recently we have hit the 1.618 fib retrace on the S&P 500, which also happens to be confluent with a Bearish Deep Crab, and what has happened over the last 3 trading days is that we hit the PCZ of the pattern and started selling off a bit, if this is confirmed to the the top of this particular cycle then we could see a measured move of at least 2900, and even the possibility of hitting a second target of 2200 to retest 2020 lows,
and there is also the fact that many companies are reporting earnings and dump at the slightest miss, or if they have a good earnings report but murky guidence
Aviso legal
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