hopefully the SPX only goes to the low of that channel from the
2009 lows and we doesn't want to retest that line from the 1974
lows during the bear market LOL. Again if that were to occur I'd
say would be late 2023 maybe 2024. If the market sells to the lower
3K this fall, I think the market would be due for a strong rally
the first part of 2023
here's an illustration of what I meant for 2023 should the
market go to our lower targets this fall, then have a sizeable abc
rally in early 2023, that would be wave B of the bear market, then
once over down again in C. The first leg of this bear market is
still the wave A. Remember bear markets are large ABC patterns
SPX chart back to 1974
Posted by matt on 25th of Sep 2022 at 04:42 pm
hopefully the SPX only goes to the low of that channel from the 2009 lows and we doesn't want to retest that line from the 1974 lows during the bear market LOL. Again if that were to occur I'd say would be late 2023 maybe 2024. If the market sells to the lower 3K this fall, I think the market would be due for a strong rally the first part of 2023
here's an illustration of what
Posted by matt on 26th of Sep 2022 at 11:34 am
here's an illustration of what I meant for 2023 should the market go to our lower targets this fall, then have a sizeable abc rally in early 2023, that would be wave B of the bear market, then once over down again in C. The first leg of this bear market is still the wave A. Remember bear markets are large ABC patterns
Thanks Matt I had that
Posted by retirefire on 26th of Sep 2022 at 11:39 am
Thanks Matt I had that as a Major1-2-3 not knowing nomenclature but same idea.
the link won't work with
Posted by matt on 25th of Sep 2022 at 05:26 pm
the link won't work with basic Stockcharts membership, I think those cut off at 1980
https://stockcharts.com/h-sc/ui?s=$SPX&p=M&st=1973-01-01&en=2022-12-30&id=p38568475649&a=1160463942&listNum=61
stockcharts.com
$SPX | SharpCharts | StockCharts.com
Create advanced interactive price charts for $SPX, with a wide variety of chart types, technical indicators, overlays, and annotation tools.
That lower trend line is
Posted by arun on 26th of Sep 2022 at 11:41 am
That lower trend line is expected to move up with time right ? so it may end up being a retest of 3200 or undercut a bit..just guessing.im not sure
Hi Matt - would you
Posted by mirhamedali on 25th of Sep 2022 at 05:01 pm
Hi Matt - would you be able to share the chart link for this one please?