S&P 500:
Market in an uptrend. Broke resistance and tested as support. Market making U-turns on uptrend line. Now sitting at horizontal support and trendline support. Market retraced 50% Fib level. Market completed sub abcd swing / Gartley pattern. Doji candle at this level on 01 Sep 2022.
Potential fib target 4448.82
trading counter trend breaks bullish towards this target
Market in an uptrend. Broke resistance and tested as support. Market making U-turns on uptrend line. Now sitting at horizontal support and trendline support. Market retraced 50% Fib level. Market completed sub abcd swing / Gartley pattern. Doji candle at this level on 01 Sep 2022.
Potential fib target 4448.82
trading counter trend breaks bullish towards this target
Comment:
Market broke into buy zone. Gartley successfully completed. Turning to 1 hour timeframe for entries