SPX - Did SPX Just X Wave? ððŧ
Did SPX just X wave? ðĪðĄ
In connecting ABCs; an X wave will commonly retrace 0.618 from A to C which will often rise to the area of the previous lower degree B wave and this is pretty much what is on the chart.
Currently SPX is just shy of 0.618 but it has found resistance and printed a fakeout reversal through the 200DMA.
RSI topped in this area before and could be a clue and although there has been bullish divergence this can be realised in printing the X wave that may now be complete or near completion.
If it does carry on down then at this trajectory next ABC 1:1 target is 3856, though it could of course pick up pace and find a lower fib.
Not advice.
In connecting ABCs; an X wave will commonly retrace 0.618 from A to C which will often rise to the area of the previous lower degree B wave and this is pretty much what is on the chart.
Currently SPX is just shy of 0.618 but it has found resistance and printed a fakeout reversal through the 200DMA.
RSI topped in this area before and could be a clue and although there has been bullish divergence this can be realised in printing the X wave that may now be complete or near completion.
If it does carry on down then at this trajectory next ABC 1:1 target is 3856, though it could of course pick up pace and find a lower fib.
Not advice.
āļāļąāļāļāļķāļ
For deep posts on SPX check NoOneWhoIsSomeone, - very good.
Your FA guru can't read a chartð
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Your FA guru can't read a chartð
I run a technical group with lots of content every day + regular videos, 1:1, chatroom ð.
Better than all the rest? My record speaks for itself ðĄ.
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Contact: t.me/dRends35
I run a technical group with lots of content every day + regular videos, 1:1, chatroom ð.
Better than all the rest? My record speaks for itself ðĄ.
Telegram Group: $50 per monthâĻ.
Contact: t.me/dRends35
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