Utilizing Elliot Wave theory we can derive a 5 wave pattern that gives us two targets using two methodologies. The first most simple is to take the magnitude of wave 1 and project it from the beginning of wave 5 which gives us a target of about 3999. The second methodology uses a combination of points from waves 3 and 4 to project several Fibonacci levels and the nearest equates to about 4005, this is the level to watch very closely b/c if we break it there could be a lot more upside and if it acts as resistance we could be in for a correction. It should also be noted that MFI on SPY futures reached a maximum of 68.97 in the past several months and I believe we are at about 66 now, whether the 69 level breaks will be interesting, Please leave any comments and questions.
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。