Using the Andrews Fork tool, we note that the SP500 is in a very dangerous region, from where it tends to fall to fetch the center line of the fork (red). If this happens, we will also lose the bottom line of the schiff's fork, another bass signal.
And in addition, we reached the 261% Fibonacci level well in Elliot's 5 impulse wave (according to my count), from the projection of the 2000 crash (dot.com bubble) in 2867, and the price dropped, which confirms the vision of the forks of a possible fall due to the corrective waves.
Another important point is the turn of my own indicator, the Scadufax Index, which if the monthly candle close thus, is signaling sale, something that it signaled before the crash of 2000 and 2008.
It projects a drop of at least 20%, +/- the region of 2000, but only if the price loses support of 2500, which would break the Yellow LTA of the Weekly period.
This is not a Buy or Sell recommendation.
And in addition, we reached the 261% Fibonacci level well in Elliot's 5 impulse wave (according to my count), from the projection of the 2000 crash (dot.com bubble) in 2867, and the price dropped, which confirms the vision of the forks of a possible fall due to the corrective waves.
Another important point is the turn of my own indicator, the Scadufax Index, which if the monthly candle close thus, is signaling sale, something that it signaled before the crash of 2000 and 2008.
It projects a drop of at least 20%, +/- the region of 2000, but only if the price loses support of 2500, which would break the Yellow LTA of the Weekly period.
This is not a Buy or Sell recommendation.
Comment:
started, 1500 was lost!