Hello everyone, hope you all are doing good.
Bullish Probability:(at least one or two weekly candle closes above 4100 than there is a possibility of this playing out).
There is an active Bullish Divergence playing out in RSI, so there are chances S&P500 may put new high above 5k.
If S&P500 put new High, then it can be a Triple Bearish Divergences, so after that it can be a massive dump of markets.
In this case the 1st Bottom will be 3500, so the 2nd Bottom can be massive drop from 5k to 2000, previously S&P500 dropped its 2nd Bottom from 1580 to 670(-57%).
Bearish Probability:(at least one or two Weekly candle closes below 3700 than there is a possibility of this playing out)
Currently the Fractal of SnP500 looks like similar to the previous oct-2001 to july-2002 Fractal.
S&P500 -> falling in a Descending parallel channel -> Breakout/Fake Out little and finally put lower low or 1st Bottom.
If this plays out than RSI may fall below 30 - invalidating the current Bullish Divergences. (Sometimes Divergences get invalidated due to forceful movement of Markets).
Target = around 3200 OR there is a possibility to fall on the sky Blue trendline.
Thank you, please like and share, if you have any questions please comment.
Bullish Probability:(at least one or two weekly candle closes above 4100 than there is a possibility of this playing out).
There is an active Bullish Divergence playing out in RSI, so there are chances S&P500 may put new high above 5k.
If S&P500 put new High, then it can be a Triple Bearish Divergences, so after that it can be a massive dump of markets.
In this case the 1st Bottom will be 3500, so the 2nd Bottom can be massive drop from 5k to 2000, previously S&P500 dropped its 2nd Bottom from 1580 to 670(-57%).
Bearish Probability:(at least one or two Weekly candle closes below 3700 than there is a possibility of this playing out)
Currently the Fractal of SnP500 looks like similar to the previous oct-2001 to july-2002 Fractal.
S&P500 -> falling in a Descending parallel channel -> Breakout/Fake Out little and finally put lower low or 1st Bottom.
If this plays out than RSI may fall below 30 - invalidating the current Bullish Divergences. (Sometimes Divergences get invalidated due to forceful movement of Markets).
Target = around 3200 OR there is a possibility to fall on the sky Blue trendline.
Thank you, please like and share, if you have any questions please comment.
