I spoke about a possible bottom on S&P on March 22, market bottomed on March 24 and has rallied despite all the negative news around. Wave 2 should be in progress soon and dips towards the handle should be bought for long term investments.
Wave C of the crash can be seen as a complete five-wave impulse, and if this count suggests, then the crash is over and that the bulls are ready to lift the market higher. As long as 2183 holds, this is the count to rely on.
In conclusion, the corona virus selloff seems to be over. Higher levels can be expected as long as 2183 holds.
Remember - The world was in a recession during the entire 2009, but the stock market started rising in early March 2009.
Wave C of the crash can be seen as a complete five-wave impulse, and if this count suggests, then the crash is over and that the bulls are ready to lift the market higher. As long as 2183 holds, this is the count to rely on.
In conclusion, the corona virus selloff seems to be over. Higher levels can be expected as long as 2183 holds.
Remember - The world was in a recession during the entire 2009, but the stock market started rising in early March 2009.