Following up on my forecast of the S&P500
In my previous post, I (wrongly) used the Fib. Retracement tool to forecast that the E-mini S&P500 will reach 4600 area before having a correction.
Right now there's actually a build up at the end of 2 week consolidation (the white box). If it does breakout, the projected move will be at least 190 points (Calculation is from the previous low to the high of the consolidation), which is really close to 4600!
Really interesting to me!
Let's see how this pans out.
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.
Right now there's actually a build up at the end of 2 week consolidation (the white box). If it does breakout, the projected move will be at least 190 points (Calculation is from the previous low to the high of the consolidation), which is really close to 4600!
Really interesting to me!
Let's see how this pans out.
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.
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