Back in August, I applied the Fib. Retracement tool, albeit wrongly, to forecast the possible move the S&P 500 will go before a sizeable correction will happen.
2 months later, turns out to be pretty accurate! Well, not to the T but still pretty impressive I'd say!
So, the next question will be how low will it go before resuming its trend? Or is this selloff the mark of the beginning of a bear market?
Here's previous approximate sizeable correction:
- Aug 2011 = 24%
- Jan 2016 = 15%
- Dec 2018 = 21%
- Mar 2020 = 36%
Time will tell and the price will show!
Invest & trade safely, always!
Disclaimer: I'm not giving any trading and investing advice. I'm just sharing my chart observations.
If you have any symbols that you'd like me to analyze, feel free to drop me a comment.
2 months later, turns out to be pretty accurate! Well, not to the T but still pretty impressive I'd say!
So, the next question will be how low will it go before resuming its trend? Or is this selloff the mark of the beginning of a bear market?
Here's previous approximate sizeable correction:
- Aug 2011 = 24%
- Jan 2016 = 15%
- Dec 2018 = 21%
- Mar 2020 = 36%
Time will tell and the price will show!
Invest & trade safely, always!
Disclaimer: I'm not giving any trading and investing advice. I'm just sharing my chart observations.
If you have any symbols that you'd like me to analyze, feel free to drop me a comment.
