Looking for the turning point S&P500
After reaching the proposed target of 4100 it is time for looking for the turning point.
I cleared and adjusted my charting a bit:
RENKO indikates a turning point at approx. 4180. We can see on the weekly bars chart a 5 leg down movement followed a small zig-zag, which finished at approx. 4200. We can expect another 5 legs down series as we are in a bear market. The first lower turning point in the up-coming down cycle could be expected at around August 9.
I cleared and adjusted my charting a bit:
RENKO indikates a turning point at approx. 4180. We can see on the weekly bars chart a 5 leg down movement followed a small zig-zag, which finished at approx. 4200. We can expect another 5 legs down series as we are in a bear market. The first lower turning point in the up-coming down cycle could be expected at around August 9.