My guide for SPX
Consists of Head and shoulders target 3600
Ascending triangle target 3330 (hit)
If we start breaking the recent swing low(the last higher low) we should find support in this area. The biggest opportunity remains buying the 200 week moving average. If we break there, i expect a 50% drop.
As things stand today, my target is 3600. with stops below 2850.
FYI, I called the top at 3330.
Consists of Head and shoulders target 3600
Ascending triangle target 3330 (hit)
If we start breaking the recent swing low(the last higher low) we should find support in this area. The biggest opportunity remains buying the 200 week moving average. If we break there, i expect a 50% drop.
As things stand today, my target is 3600. with stops below 2850.
FYI, I called the top at 3330.
Comment:
Wasn't clear above: If we close below 2850 we should find support at the 200 week moving average of ~2650. If that fails the target is 2040 then 1600 if that fails.
