Just my opinion, not financial advice!
SP500 index to reach 3350-3400 by end of September 2019.
Stock loss news has been dominating the narrative lately but the charts say otherwise.
You can see the current ATH bounced perfectly off the previous cycle's 2.618 level. (Thin black fib lines).
Longer term fib, measuring from the '94 to the dot com peak, matches up very nicely and indicates a future price of 3350-3400 before correction.
SP500 index to reach 3350-3400 by end of September 2019.
Stock loss news has been dominating the narrative lately but the charts say otherwise.
You can see the current ATH bounced perfectly off the previous cycle's 2.618 level. (Thin black fib lines).
Longer term fib, measuring from the '94 to the dot com peak, matches up very nicely and indicates a future price of 3350-3400 before correction.
Comment:
Pre-holiday blood bath this week. Any pierce below the green trend line represents bad things. For now support is holding.