SPx500 (Y22.P1.E2). More correction?

11 ก.พ. 2022

Hi All,

We have seen the 1st announcement with interests rates which dropped the market.
We just got another increase announcement slightly more than what the market expected. CPI.

Just looking at the chart and channel, I think the 2 scenario's are valid.
ABC correction is taking place with a mild or deeper correction to play out.
The deeper correction can play out to a descending wedge.
As you can see on the RSI, we have a signicant bearish divergence.... I have 3 scenarios based on the RSI history.
I don't favour any....but its worth having some cash handy now for the drop.

All the best,
S.Sari