S&P rising wedge formation
I find the rising wedge formation in the shorter term a very reliable indicator of a strong sell-off ahead.
In this case the S&P 500 is forming a much longer-term rising wedge that will more than likely result in a sell-off (major?) nearer the top of the long-term uptrend channel.
The Fibonacci retracements indicate a weakening trading cycle, with the second cycle close to a 73.6% retracement, compared to the earlier, healthy 38.2% retracement.
Nothing too complicated here.
In this case the S&P 500 is forming a much longer-term rising wedge that will more than likely result in a sell-off (major?) nearer the top of the long-term uptrend channel.
The Fibonacci retracements indicate a weakening trading cycle, with the second cycle close to a 73.6% retracement, compared to the earlier, healthy 38.2% retracement.
Nothing too complicated here.
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.