Posted by DigiNomad on 16th of Aug 2023 at 02:12 pm
SPX Fib (as I have them drawn currently) shows the 38.2 @ 4396.
The soonest we could get there, without a significant break
of the channel in the direction of the channel, would be Friday
(18th).
Posted by fredsaid on 16th of Aug 2023 at 02:18 pm
I like it. I think it will hold for a decent bounce.
The only thing is that the QQQs want that 357, so that would
mean QQQs down another 2-2.5% and SPY only down another 1%.
We've seen those days before where QQQs are primary sell off.
GOOG, AAPL, AMZN still holding.
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I'm thinkin today... should be
SPX - I show the bottom of this downtrend channel ...
Posted by fredsaid on 16th of Aug 2023 at 02:05 pm
I'm thinkin today... should be confirmed with some more down side probing into today's close or like you said, maybe tomorrow morning.
SPX Fib (as I have
Posted by DigiNomad on 16th of Aug 2023 at 02:12 pm
SPX Fib (as I have them drawn currently) shows the 38.2 @ 4396. The soonest we could get there, without a significant break of the channel in the direction of the channel, would be Friday (18th).
I like it. I think
Posted by fredsaid on 16th of Aug 2023 at 02:18 pm
I like it. I think it will hold for a decent bounce. The only thing is that the QQQs want that 357, so that would mean QQQs down another 2-2.5% and SPY only down another 1%. We've seen those days before where QQQs are primary sell off. GOOG, AAPL, AMZN still holding.