After a ~35% panic drop in the S&P and a bear rally fuelled by the fed money printing machine, will reality finally catch up with the market? Record unemployment, lackluster company earnings, a shutdown economy, a worsening health crisis, uncertainty for the future, declining volume & momentum - all ingredients that reduce investor confidence which will inevitably cause the market to drop. I suspect to at least test the recent low, if not much lower to around ~1600.
Price has hit the .5 retrace at the 1:1 extension and it's all down from here. How far down we'll have to see what the wave structure gives us.
Please comment with your thoughts.
Price has hit the .5 retrace at the 1:1 extension and it's all down from here. How far down we'll have to see what the wave structure gives us.
Please comment with your thoughts.
Trade active:
Entered short at 2855
Trade closed: stop reached:
SL hit. This bear got trapped.