With leaving the old ATH behind the S&P 500 reached uncharted land.
What can be the next aim?
1) Fib retracement:
2) EW - motive waves:
3) chart patterns:
- on 2787 we find a swing trend line, also the upper limit of a triangle
- this triangle had been broken up to the top in july 18
- measuring the spread at the "mouth" of the triangle and shifting it to the day where the price left the triangle we can draw a rectangle as target zone
The indicators are signalling a bullish trend - at least for the next time.
But volume is going back - the last rush hasn´t been accompanied with rising volume - an alarming sign.
My conclusion:
S&P 500 has had a very long rally, beginning in 2009 and ending in 2018 probably. Perhaps we see some more new highs in the next days, but with rising risks as well. The ending of the last motive wave 5 isn´t far away in my opinion. And with the ending of this long cycle we will enter a correction that is worth to be called "crash". Because the fib retracements (78.6% at 2.400 or 61.8% at 2.035) are far below the actual price.
What can be the next aim?
1) Fib retracement:
2) EW - motive waves:
3) chart patterns:
- on 2787 we find a swing trend line, also the upper limit of a triangle
- this triangle had been broken up to the top in july 18
- measuring the spread at the "mouth" of the triangle and shifting it to the day where the price left the triangle we can draw a rectangle as target zone
The indicators are signalling a bullish trend - at least for the next time.
But volume is going back - the last rush hasn´t been accompanied with rising volume - an alarming sign.
My conclusion:
S&P 500 has had a very long rally, beginning in 2009 and ending in 2018 probably. Perhaps we see some more new highs in the next days, but with rising risks as well. The ending of the last motive wave 5 isn´t far away in my opinion. And with the ending of this long cycle we will enter a correction that is worth to be called "crash". Because the fib retracements (78.6% at 2.400 or 61.8% at 2.035) are far below the actual price.