S&P 500 IndexShort
Large correction forming
=> here we are tracking the highs from a wave perspective and there is a very high chance we are witnessing the market completing a 5 wave impulse move from 2016 via tax cuts.
=> The sell-off last month looks very much like the start of the ABC correction and sharp money saw and traded the 'A' part of the leg.
=> Here we see the market remaining under pressure via rates and any recovery should be treaded as counter trend (the B part of the ABC)
=> Applying the fib here we can see initial targets for the 'C' leg will rest at 2300/2200
=> Do not jump the gun here, we are actively looking to trade the 'C' part of this corrective wave
=> Good luck all those trading US equities
=> The sell-off last month looks very much like the start of the ABC correction and sharp money saw and traded the 'A' part of the leg.
=> Here we see the market remaining under pressure via rates and any recovery should be treaded as counter trend (the B part of the ABC)
=> Applying the fib here we can see initial targets for the 'C' leg will rest at 2300/2200
=> Do not jump the gun here, we are actively looking to trade the 'C' part of this corrective wave
=> Good luck all those trading US equities
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